Cloudera, a start-up based in Palo Alto, California, announced $160 million in new venture funding support its Apache Hadoop-based data management software and services. The new funding round was led by T. Rowe Price, along with three other top-tier public market investors, and included an investment by Google Ventures and an affiliate of MSD Capital, L.P., the private investment firm for Michael S. Dell and his family. To date, Cloudera has raised $300 million in venture funding.
Cloudera said it will use the funding to further drive the enterprise adoption of and innovation in Hadoop and promote the enterprise data hub (EDH) market; support geographic expansion into Europe and Asia; expand its services and support capabilities; and scale the field and engineering organizations.
"Cloudera is successfully helping enterprises exploit 'big data' and manage the transition to becoming more data centric," said Henry Ellenbogen, Portfolio Manager, T. Rowe Price New Horizons Fund. "With strong leadership, an ability to innovate, a satisfied customer base, and a large partner community, we believe Cloudera is well positioned to build a durable and leading company in this space."
"We see broad demand from enterprises who want a flexible approach to handling large amounts of data, and we expect this market to continue to grow rapidly," said Google Ventures General Partner Karim Faris. "Cloudera is dramatically lowering the cost of reliable storage for the enterprise and is enabling the analysis and mining of large data sets in a way that wasn't possible before."
Recently, Cloudera brought to market the industry's first complete enterprise data hub. The company said the key advantages for enterprise customers are:
- Frees them from being dependent on expensive, specialized data storage and compute systems, and instead take advantage of the power of industry-standard server hardware and scale-out architecture;
- Enables enterprises to store any amount of data, of any type, and keep it online as long as needed;
- Ensures that data is secure and governed to meet enterprise requirements;
- Makes it possible for customers to "bring compute to the data," to build a single unified data system rather than moving data around from one system to another;
- Lets customers offload selected data and workloads from expensive, specialized data warehouse infrastructure to alleviate the pain of missed SLAs and degraded query performance;
- Can accommodate huge and varied data sets for more meaningful and timely analytics and enable innovative security solutions, such as real-time anomaly detection without duplicating data or building custom, specialized solutions.