Dremio, a start-up based in Santa Clara, California, raised $135 million in Series D funding for its data lake service.
Dremio eliminates the need to copy and move data to proprietary data warehouses or create cubes, aggregation tables and BI extracts.
“There is a challenging story before the story when it comes to data warehouses, and that is the process of copying, moving and synchronizing data,” said Billy Bosworth, CEO of Dremio. “Dremio’s technology fundamentally simplifies workflows, allowing analytics directly on your full data set, stored in industry-standard open formats, residing in native cloud storage. We are pleased to have Sapphire Ventures on the investor team to help make that possible.”
The new fundraising round is led by Sapphire Ventures with participation from existing Dremio investors: Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, Redpoint Ventures, and Cisco Investments. The investment will help Dremio expand its engineering centers of excellence around the globe, grow its customer-facing organization, contribute to open-source initiatives, and invest heavily in educating and enabling a growing community of data lake practitioners. The new fundraising occurred just nine months after a $70 million round led by Insight Partners in March 2020.
