Big data-as-a-service company, Qubole, has raised $30 Mn in a Series C round of funding led by Institutional Venture Partners (IVP) along with existing investors CRV, Lightspeed Venture Partners and Norwest Venture Partners also participating.
As part of the deal, General Partner at IVP, Somesh Dash will join the Qubole board of directors.
The new funding will help Qubole in expanding availability of its Qubole Data Service (QDS), a self-service platform for big data analytics, and also to integrate new data engines for customers to choose the right tool for their data analytics needs. “This additional investment will enable us to expand our efforts in sales, marketing and product development while continuing to serve our current customers with excellence,” said, Ashish Thusoo, CEO & co-founder of Qubole.
Founded in 2011 by Ashish Thusoo and Joydeep Sen Sarma, Qubole, empowers both developers and non-developers to access big data generated by their companies to gain actionable insights at a cost-effective rate.
The startup processes over 250+ petabytes of data each month on its cloud-based big data analytics platform. Qubole currently runs on the largest public clouds such as Amazon Web Services, Google Cloud Platform and Microsoft Azure.
The firm also said that over the next year, it will expand its cloud-agnostic platform to integrate with additional cloud providers.
“Qubole’s platform is already being used by innovative customers with unprecedented data needs, and has proven to be the most comprehensive, easy-to-use and economical solution available,” said Somesh Dash, General Partner at IVP. Few of its customers include Datalogix (Oracle), BloomReach, Pinterest, TubeMogul and Fanatics.
With good response from a number of industries, the company is looking to target several new verticals, including Internet of Things (IoT), life sciences and retail. Besides, it will also expand its customer acquisition efforts in the APAC and EU regions.
Prior to this, in 2014, the company had raised $13 Mn in funding round led by Norwest Venture Partners, to expand its mission to help every company to use the cloud to turn data into business growth. The company claims that with this round, it has raised a total funding of $50 Mn.