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December 12, 2012

Cloudera Gets $ 65 Million of Fund

Filed under: Venture Capital News — admin @ 12:49 am

San Francisco based company, Cloudera, raised recently $ 65 million in new series E round of funding. The round of funding was led by investor Accel Partners. Greylock Partners, In – Q – Tel, Ignition Partners and Meritech Capital Partners participated. After this funding, the company was valuated at around $ 700 million. The company raised $ 40 million at the end of last year and has a total funding of $ 140 million.

Cloudera bases its business on Hadoop, an open – source software that combines the results from large sets of data. The company offers services that permit businesses to use Hadoop in an easy way. While Hadoop has become the next big thing and a great number of companies offer their version of it, while other businesses build stuff that work with it, Cloudera is actually the biggest and most known company in the world of Hadoop.

Being created 4 years ago by enginners from Google, Yahoo, Oracle and Facebook, Cloudera will take a great step forward. Accel Partners, the investors that led the series of funding is a new investor to the company and the money from it will be used partly to expand the operations from Europe by opening new offices in the United Kingdom early next year.

Regarding the success that the company has had so far, this cannot ensure Cloudera’s further accomplishments. Still, as the officials declared, it is very rare that a software and infrastructure firm sees this type of growth. Cloudera changed Hadoop in just a few years, having in its portfolio clients such as AOL, eBay, Nokia, Walt Disney Company, CBS, Monsanto, J. P. Morgan Chase and Research in Motion.


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