Upsolver Raises $25M In Funding Round, Offers Community Edition Of Its Data Lake Engineering Tech
Upsolver looks to simplify the complex data engineering tasks associated with moving data into a cloud data lake system for business analysis tasks.
Big data startup Upsolver has raised $25 million in Series B financing, which the company will use to accelerate development of its data lake engineering platform for cloud analytics.
The latest funding round brings the company’s total financing to $42 million, including a $13 million Series A round last year, and comes after a year in which the company’s revenue tripled, Upsolver said Tuesday.
The funding round was led by Scale Venture Partners with participation from existing investors JVP, Vertex Ventures US and Wing Venture Capital.
[Related: Big Data Software Company Striim Raises $50M In Series C Funding]
The company also unveiled a free community edition of its software, available on Amazon Web Services and Microsoft Azure, that can run small data lake workloads or prototype larger ones. The edition also can be used within the company’s sandbox environment to learn how it works.
More businesses and organizations are moving data into cloud data lakes for business analysis tasks. But making the data available for analysis often requires complex data engineering projects that can take months and require teams of skilled data engineers.
Upsolver’s cloud-native platform abstracts the engineering complexity of moving data into cloud-based data lakes, simplifying the data ingestion, ETL and storage steps often required for business analytics tasks, according to the company. Its no-code technology eliminates the need to build complex data pipelines managed by data engineer teams.
“We wanted to store data affordably in the cloud without analytics vendor lock-in,” said CEO and co-founder Ori Rafael in a statement. “Unfortunately, what used to take three hours using SQL turned into a month or more of hand-coding and hundreds of configurations in Spark. We created Upsolver to transform cloud analytics into an agile process.“
Upsolver, based in Sunnyvale, Calif., said it will use the new funding to “aggressively build its team, scale its go-to-market engine, and drive technical innovation.”