Series B funding round led by Singtel Innov8 with General Electric and existing investors to drive product innovation and company growth
SANTA CLARA, Calif. ' April 28, 2015 ' DataTorrent
, the leader in real-time big data analytics and creator of the world's first enterprise grade real-time stream processing platform (RTS) on Hadoop, today announced that it has closed a $15 million Series B financing round. This round is led by Singtel Innov8, with additional participants including GE Ventures and all existing investors from the company's Series A round. In conjunction with today's announcement, Singtel Innov8 Managing Director Jeff Karras will join the company's board of directors.
The new funding brings the total amount raised to $23.8 million and caps off a year of milestones for the company including two releases of the DataTorrent RTS platform, the introduction of two private beta projects that enable faster time to insight and drag and drop application development and the company's recognition by Gartner as a "Cool Vendor." The company previously raised an $8 million Series A round in June 2013, led by August Capital. Other participants in that round included AME Cloud Ventures and Morado Venture Partners.
Big data is increasingly stretching the business intelligence and analytics needs of enterprises, with organizations demanding faster insight and time-to-action for both data-in-motion and data-at-rest. The DataTorrent RTS platform provides end-to-end data pipeline optimization including data ingestion, transformation, advanced analytics, alerting and automated actions. Additionally, the platform's open source library of hundreds of Java-based operators enables rapid big data application development.
"More and more organizations are looking towards big data analytics to provide valuable insights for their business operations, but lack easy to use, intuitive tools for big data to uncover these insights in a timely manner themselves," said Karras. "The DataTorrent platform uniquely enables broad accessibility of analytics for both batch and stream processing allowing organizations glean faster insights and to unlock the value of their data."
"As more machines are connected to the Industrial Internet, industrial organizations are generating an overwhelming amount of data at high velocity," said Brett May, Head of Venture Capital and M&A at GE Software. "DataTorrent enables companies to capture and use structured or unstructured data to gain insight and take action in real time. We are excited to see the product innovation at DataTorrent and to support their continued growth."
"With a customer base that includes Fortune 100 companies as well as innovative web-based organizations, DataTorrent continues see demand across the enterprise for the DataTorrent RTS big data analytics solution" said Phu Hoang, co-founder and CEO, DataTorrent. "Today's investment will allow us to continue to innovate our platform and make data analytics accessible to enterprise customers at all levels and roles ' data center operations, developers, data scientist and business analysts."
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DataTorrent is the leader in real-time big data analytics. DataTorrent RTS is the industry's only solution to have a high performing, fault tolerant unified architecture for both data in motion and data at rest. DataTorrent RTS is proven in production environments to reduce time to market, development costs and operational expenditures for Fortune 100 and leading Internet companies. Based in Santa Clara, California, DataTorrent is backed by leading investors including August Capital, GE Ventures, Singtel Innov8, Morado Ventures, and Yahoo co-founder Jerry Yang. For more information, visit our website
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About Singtel Innov8
Singtel Innov8 (Innov8), a wholly-owned subsidiary of the Singtel Group, is a corporate venture capital fund, with its own set of decision making, approval and funding processes. It has an initial fund size of S$200 million. Innov8 focuses its investments on technologies and solutions that lead to quantum changes in network capabilities, next generation devices, digital content services and enablers to enhance customer experience. It works closely with the ecosystem of leading innovators, developers, government agencies, R&D and capital providers to bring cutting-edge technologies and solutions to the various markets the Singtel Group operates in.
Learn more at http://innov8.singtel.com
About GE Ventures
GE Ventures is committed to identifying, scaling and accelerating ideas that will make the world work better. Focused on the areas of software and analytics, advanced manufacturing, energy and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE's technical expertise, capital and opportunities for commercialization through GE's global network of business, customers and partners. GE Ventures is headquartered in Menlo Park, CA. For more information, please visit www.geventures.com