US based big data firm Cloudera has raised $65m in fifth round of venture capital funding to expand its sales and support operations.
The firm is part of growing group of organisations that assist in moving deeper into data developed by digital sources including sensors, posts to the Internet, pictures and videos.
Known for commercialisation of the open-source data service Hadoop, Cloudera has raised $140m till date and the current deal valued the firm at $700m.
According to AllThingsD, the funding round was led by Accel Partners, along with other participants including Greylock Partners, Ignition Partners, In-Q-Tel and Meritech Capital Partners.
Cloudera CEO Mike Olson said Big Data continues to fuel significant new business opportunities and revenue streams for the firm’s enterprise customers, spurring the need for new, large-scale data management solutions that can meet the needs of today’s demanding enterprise workloads.
"This new investment will speed the expansion of our sales and support operations to meet increasing enterprise demand for our real-time, Hadoop-based platform, as we scale to address the enormity of this global market opportunity," Olson said.
"At the same time, we remain unwavering in our commitment to the delivery of groundbreaking innovation across the Cloudera software platform and the open source Apache Hadoop stack.
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"The way forward is clear and our mission is simple: we will shape and define the next generation of Big Data management solutions for the enterprise."
Established in 2008 by engineers from Yahoo, Google and Facebook in addition to Oracle’s CEO Mike Olson, Cloudera has emerged as leading player among big data firms.
Accel Partners partner, Accel Big Data Fund head Ping Li said that as global business data growth reaches near exponential rates, enterprise organizations are grappling with the reality that they need a way to manage and make use of it.
"Four years ago, Cloudera set out to pioneer the business case for Apache Hadoop in the enterprise," Li said.
"The team succeeded in developing the market’s leading platform for big data and has become the go-to technology for enterpriseHadoop Infrastructure, supported by its rich and diverse partner ecosystem."
