Today, IVP announced that it is leading a $30 million Series C financing for Qubole, a fast-growing infrastructure software company bringing Big Data Analytics to the Public Cloud. We are thrilled to be partnering with a world-class management team and a group of seasoned Enterprise investors to build the standard for processing Big Data in the cloud.
Big Data… as a service … in the cloud … sounds complicated! Here are the key reasons IVP decided to invest in Qubole:
• Qubole is the way Big Data is supposed to be – While “Big Data” may be the most over-used term in Silicon Valley, there is a reason: understanding unstructured data is now a mission-critical capability for enterprises. Hadoop, Spark, Hive and other open source technologies gave us the basic tools necessary to analyze Big Data, but actually processing and drawing meaningful insights from data is still an expensive, slow, and service-intensive process. Qubole is changing this paradigm with a platform that can be up and running in minutes, needs minimal administrative oversight, and can automatically scale to thousands of nodes based on workloads.
• Superior product spreads virally through organizations – The Qubole Data Service (QDS) is a flexible SaaS product that enables Engineers, Data Scientists, and Business Analysts to instantly begin querying data with all the latest open source data processing engines. Whether you need to run workloads in Hadoop, Hive, Spark, Presto, Pig, Cascading, or HBase, or whether your data resides on Amazon Web Services, Microsoft Azure, or Google Compute Engine … it is all possible with Qubole! In addition to the platform, Qubole has built a number of awesome features, like auto-scaling, data encryption, query builders, and a slick UI, that are simply not available elsewhere in the market. As a result of its flexibility and multiple use cases, QDS spreads quickly to multiple groups within an enterprise and eventually becomes the analytics platform of choice for an entire organization.
• Strong initial customer traction – With minimal Sales & Marketing investments, Qubole has had fantastic success signing up large initial customers, including some of the most data-intensive organizations out there. Companies like Oracle (Datalogix), Pinterest, Under Armour, BloomReach, and Media Math are all examples of customers that are using and loving QDS in multiple parts of their organizations. This financing will give Qubole the dry powder it needs to expand field sales, channel relationships, alliances and marketing, and build a go-to-market effort worthy of the best self-service analytics platform in the market today.
• Qubole is built for the Public Cloud – The shift to Public Cloud infrastructure is one of the most powerful trends in all of Technology, and is an incredible macro tailwind for Qubole. Enterprises everywhere are reducing or eliminating their physical IT assets, and benefiting from the scalability, cost efficiency, and security of the Public Cloud, allowing them to refocus resources on their core businesses. We fundamentally believe that over time, more and more applications will be built in the Cloud, so it makes sense for the analytics for those applications to also live in the Cloud. Initially, it was Technology companies leading the charge, but now some of the largest enterprises in the world are moving data into Amazon Web Services, Microsoft Azure, and Google Compute Engine. Since Qubole is the best analytics platform native to the Public Cloud, the team is now experiencing great success in signing customers in a variety of industries.
• Visionary co-founders and experienced early venture investors – Ashish and Joydeep built and led the Facebook Data Service Team, and are the creators of the popular open source project, Apache Hive. Thanks to their experience and the incredible engineering team they have assembled around them, Ashish and Joydeep were the ideal founders to build a self-service platform for Big Data analytics. We are also excited to join CRV, Lightspeed Venture Partners, and Norwest Venture Partners as shareholders. They are experienced infrastructure investors with proven tracks record of building category-defining enterprise companies.
Ashish and Joydeep are a remarkable team, and it has been a pleasure getting to know them and learning about their vision for Qubole. We couldn’t be more excited about joining the Qubole squad. We look forward to collaborating with management and the board in the years to come!
Somesh Dash is a General Partner at IVP, a later-stage venture capital firm based in Menlo Park, CA. Roseanne Wincek is a Vice President and Alex Lim is an Associate at IVP.