Dremio, a tool that helps in streamlining and curating data, announced that it has raised USD 70 million in equity growth financing. The CEO Billy Bosworth says that it will fuel the expansion of the company product capabilities, go-to-market, and engineering operations.
The company, Dremio, also offers a virtualization toolkit that removes the gap among relational databases, Hadoop, ElasticSearch, and other data stores, connecting to business intelligence software as if it were a primary data source. The startup’s platform maintains a catalog of sources, physical and virtual datasets, and lineage, making it easy to search and find data sets, and see how data is being transformed.
“We make data accessible to employees. It’s available to anyone who has permission to access it. We see [AI] as an opportunity to make companies’ experience with data as streamlined as it is in our personal lives,” said Dremio cofounder Tomer Shiran in an interview.
Dremio is available in an open-source community edition as well as a commercial enterprise edition. It works within the cloud or in a Hadoop cluster, and the pricing subscription is based on the number of nodes to which Dremio is deployed. It is expected that the big data market will be worth USD 274.3 billion by 2022, and Dremio will lead the market. The list of its clients includes Microsoft, Pfizer, PwC, UBS, and TransUnion, among others.
Dremio was founded in 2015 by two former MapR employees. It contributes to projects like Parquet, Gandiva, Calcite, and is headquartered in Santa Clara, California. It also has about 100 employees and has raised about USD 115 million following a USD 30 million series B funding in 2018.