Norwest Venture Partners has led a $13 million Series B round of funding in Qubole, a provider of a cloud-based big data platform. The Mountain View, Calif.-based company has now raised $20 million in total funding. As part of the latest round, Rama Sekhar, principal at Norwest Venture Partners, has joined the board. The Qubole previously raised a $7 million Series A round in early 2013 from CRV, Lightspeed Venture Partners and individual investors.
CORRECTION: In a previous version of the post above, Rama Sekhar’s title was incorrectly identified. He is principal at Norwest Venture Partners.
Qubole Secures $13 Million in New Financing to Expand Big Data-as-a-Service Platform
Led By Norwest Venture Partners, New Funds Will Accelerate the Impact of Big Data for Any Business
Mountain View, CA, December 10, 2014—Qubole™, a leading provider of Big Data in the cloud, announced today it has secured $13 million in new financing led by Norwest Venture Partners. The funding builds on recent milestones from the company, including a partnership with Microsoft Azure to integrate Qubole Data Service (QDS) to Azure customers, and will be used to expand Qubole’s mission to help every company to use the cloud to turn data into business growth.
“We know the real power of big data is getting it to the right people at the right time. Our mission is to help every company and every person at that company leverage big data to make a meaningful business impact,” said Ashish Thusoo, CEO and co-founder of Qubole. “We’ve seen tremendous adoption for our self-service platform and expect this to accelerate as our customers experience the incredible business outcomes that occur when everyone can access, process and collaborate with cloud data.”
Through its next generation self-service platform, Qubole empowers both developers and non-developers to access big data generated by their companies to gain actionable insights at a cost-effective rate. For example, Pinterest started with a small team of 30 Qubole users and has grown to over 250 in the past year, and many of them aren’t engineers.
“Qubole is changing the big data conversation by tapping the power of the public cloud to provide a simple, cost-effective solution that turns the complicated task of analyzing data into a seamless everyday business process,” said Rama Sekhar of Norwest Venture Partners. “The Qubole team includes some of the most innovative entrepreneurs in the industry who are committed to meeting the evolving data needs of the enterprise.”
Qubole’s flagship product, QDS, runs Hadoop infrastructure where users can easily analyze and collaborate with their company’s data. QDS provides IT organizations the option to use cloud infrastructure – Google Compute, Amazon Web Services or Azure – to provide users with self-service access to data while eliminating the capital expenditures associated with maintaining hardware and hiring skilled support to manage that infrastructure.
While on-premises offerings from competitors require users to hire Hadoop infrastructure experts, purchase hardware and deploy Hadoop clusters in order to start analysis, Qubole provides a turnkey solution in the cloud that automatically provisions clusters and scales them according to usage and use case. Qubole provides significant cost savings, solves the “skill shortage” dilemma and reduces the risk of deploying big data.
Qubole’s platform currently processes 83 petabytes of data every month; that’s up from 57 petabytes of data it processed in September. In addition, customers conducted more than 4.96 million compute hours of data analysis in November on the Qubole Data Service.
Qubole makes it easy to turn cloud data into business growth by equipping organizations with a self-service platform to access, process and collaborate, so they can do more with big data.
Data-driven companies like Pinterest, Quora, MediaMath, TubeMogul, Answers.com, Videoplaza, Pubmatic and others rely on Qubole’s Big Data-as-a-Service Solution to easily tackle their most challenging big data requirements at a fraction of the cost of traditional alternatives. The largest brands in social media, online advertising, entertainment, gaming and other data-intensive ventures make it rain with Qubole.
Award winning Qubole was founded by Ashish Thusoo and Joydeep Sen Sarma, creators of Facebook’s big data infrastructure and Apache Hive, with the mission of making it simple to prepare, integrate, access and collaborate in the cloud so that all areas of the enterprise can do more with big data.