Big Data Player MapR Technologies Raises $30M In VC Funding6:18 PM EST Tue. Mar. 19, 2013
MapR Technologies, developer of a "big data" analytics system based on the popular Hadoop platform, has snagged $30 million in third-round funding, the company said Tuesday.
The funding, led by new investor Mayfield Fund, brings the total amount of the San Jose, Calif.-based company's financing to $59 million. Other investors included Lightspeed Venture Partners, NEA and Redpoint Ventures, which all participated in earlier funding rounds.
MapR is the latest big data startup to attract serious venture funding. In December Cloudera, a MapR Technologies competitor, raised $65 million in venture funding.
Last month, big data analytics software developer HStreaming attracted $1 million in first round funding from Atlas Ventures. Altogether, nearly $5 billion has been invested in big data startups in the last five years, according to a report issued last month by Orrick, a law firm that specializes in technology companies.
MapR Technologies said it would use the funds to accelerate its global expansion plans, especially in the Asia/Pacific region, and continue its research and development efforts.
"Organizations across industries have experimented and tested various use cases on Hadoop. Now we are entering a new phase where the focus is on production deployments, which calls for the broad support of applications that MapR uniquely provides," said John Schroeder, MapR Technologies' CEO, in a statement. "We're excited to have Mayfield join our team of top-tier investors. We'll leverage their deep expertise in big data to continue to accelerate our hyper-growth business."
MapR Technologies' software is built on a distribution of the open-source Hadoop platform and HBase database from the Apache Software Foundation. The company extends Hadoop with a range of capabilities, including system recovery, mirroring, multitenancy and advanced data management, needed for mission-critical applications by businesses.
MapR Technologies' software is used by customers in financial services, government, healthcare, manufacturing and retail industries.
PUBLISHED MARCH 19, 2013