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Yellowbrick Data Raises $75 Million In New Funding Round

Data warehouse technology developer cites growing sales and customer bases as it competes against giants Snowflake, Google and others.

Data warehouse technology provider Yellowbrick Data has raised $75 million in a Series C1 round of funding, the company said Wednesday.

The additional funding comes as Yellowbrick says it is seeing accelerated sales growth for its cloud data warehouse offerings. The company said it is on track to more than double its year-end annual recurring revenue with this year’s bookings and has added large companies in financial services, hedge funds and insurance as new customers.

The Series C1 round added three new investors including institutional investor Citadel – which is also a Yellowbrick customer. Also participating were existing investors Third Point Ventures, Menlo Ventures, Next47, DFJ Growth, Threshold Ventures, GV and IVP. (Yellowbrick did not name the other two new investors.)

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Yellowbrick provides data warehouse and disaster recovery systems and cloud services built around the company’s MPP (massively parallel processing) analytic database, competing with such giants as Snowflake and Google Big Query.

“Time and time again, customers are telling us that they can no longer tolerate the unbounded expense of consumption-based billing, especially vendors that force advanced purchase of ‘credits’ like Snowflake,” said Yellowbrick CEO Neil Carson in a statement. “Customers much prefer our modern Kubernetes-based, truly cloud-native architecture, which allows a choice of pricing models.”

Yellowbrick Data, based in Palo Alto, Calif., was founded in 2014 and emerged from stealth in 2018 with $44 million in funding. In June 2019 the company reported raising $81 million in Series C funding.

Initially Yellowbrick Data focused on offering on-premises systems as replacements for legacy data warehouse hardware such as Netezza (acquired by IBM in 2010). More recently it has been competing head-to-head with Snowflake, Google BigQuery and other cloud data warehouse vendors.

“We believe Yellowbrick’s data warehouse technology leaps ahead of anything on the market after seeing firsthand what it can do for our analytics. We’re thrilled to invest in what will be the new standard in data warehousing and analytics,” said Josh Woods, head of options, ETF, CES, and research technology for Citadel Securities, in a statement.

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