Appfluent Technology has raised $4.4 million in “Series AA” venture funding from Novak Biddle Venture Partners, the company announced. Appfuent is a provider of big data warehouse management software.
Appfluent Technology, the leading provider of big data warehouse management software, today announced it has received $4.4 million in Series AA venture capital financing from Novak Biddle Venture Partners (NBVP). Appfluent’s software enables enterprises to extend EDW capacity, reduce data management costs and accelerate deployment of Hadoop Big Data platform to enhance analytic capabilities.
As the quantity of data explodes, and business users seek increased data access, IT teams require greater visibility into how users interact with data to ensure the most relevant business information is readily available. Appfluent monitors and analyzes business activity and data usage to enable IT teams to reduce EDW costs, improve operational efficiency, optimize performance and ensure trusted usage of data.
“Appfluent is at the leading edge of helping manage the data tsunami within large enterprises,” said PV Boccasam, Appfluent lead director and general partner, Novak Biddle Venture Partners. “This growth capital allows the company to accelerate its momentum in helping big data get smarter usage delivering lower costs of data management,” Boccasam added.
“Enterprise data volumes are exploding while analytic complexity and usage are increasingly straining IT resources and budgets,” said Frank Gelbart, Appfluent president and CEO. “The world’s leading data-centric organizations are increasingly relying on Appfluent to manage big analytic data volumes smarter and to identify current business intelligence, data warehouse, ETL workloads and data most suitable for processing in Hadoop.”
According to a recent report by Gartner, big data will drive $28 billion of worldwide IT spending in 2012 and is forecast to drive $34 billion in 2013. Further, Mark Beyer, research vice president at Gartner says, “By 2020, big data features and functionality will be non-differentiating and routinely expected from traditional enterprise vendors and part of their product offerings.”