Data-as-a-service provider Qubole has raised $30 million in a series C round of funding led by Institutional Venture Partners (IVP), reports iamWire. Existing investors Norwest Venture Partners, Lightspeed Venture Partners and CRV also participated in the round of funding.
With this, IVP’s general partner Somesh Dash will join the company’s board. The funding will be used by the company to expand their flagship product Qubole Data Service (QDS), a self-service platform runs the Hadoop infrastructure where both developers and non-developers can easily analyze and collaborate with their company’s data.
QDS provides IT organizations the option to use cloud infrastructures such as Google Compute, Amazon Web Services and Azure to provide users with self-service access to data and helps cut capital expenditures for maintaining hardware and support staff.
The company also plans to target several new verticals, including Internet of Things (IoT), life sciences and retail.
Qubole raised $13 million in December 2014 in a series B financing led by Norwest Venture Partners. Earlier in 2013, Qubole had got funding from Light Speed Ventures, Charles River Ventures, Anand Rajaraman, and Venky Harinarayan.
The company was also one of the 13 companies incubated by Microsoft Accelerator in 2013. Qubole’s founders Joydeep Sen Sarma and Ashish Thusoo had previously develop Apache Hive, Facebook’s big data infrastructure.
Other big data startups developments
– Earlier this month, Blueshift Labs raised $8 million in a round of funding led by Storm Ventures, with participation from existing investor Nexus Venture Partners.
– In November 2015, online advertising solutions company Vizury laid off around 50 people in 3 cities in its ad retargeting business, and pivoted its business model to a data management platform (DMP) business.
– In August 2015, Mumbai-based IntelligenceNODE, a big data analytics startup, raised funding worth $4 million from New Enterprise Associates (NEA) and Orios Venture Partners.
– In June 2015, Data sciences and analytics firm Saama Technologies raised $35 million in a round of funding from California-based Carrick Capital Partners.
– The same month, Tracxn, a research platform for private market investors, raised $10 million in a round of funding, to launch an incubator called TracxnLabs. The company recently raised funds from Ratan Tata.