Big Data Firm MapR Technologies Closes $30m Funding Round
Hadoop distribution provider MapR has now raised a total of $59m, and plans to use its latest funding for worldwide expansion as well as research and development
Hadoop distribution provider MapR Technologies revealed on 19 March that it has closed a new round of funding, securing $30 million (£20m) in Series C financing.
New investor Mayfield Fund led the funding round, which also includes participation from existing investors Lightspeed Venture Partners, NEA and Redpoint Ventures. The total of funds it has raised is now $59 million.
Expansion plans
The new financing will be used for worldwide expansion and continued segment-leading investment in research and development, chief executive John Schroeder said.
“With Hadoop, MapR has propelled big business to embrace big data,” said Navin Chaddha, managing director of Mayfield Fund. “With the large market opportunity for big data, estimated by analysts to reach $5 billion by 2016, we believe that MapR is in a great position to emerge as the big data platform of choice for enterprises.”
MapR will be expanding in Asia Pacific to serve the company’s growing customer base in the region, Schroeder said. Late last year, MapR launched its European operations with offices in London and Munich.
Amazon, Cisco, EMC and Google are part of MapR’s broad partner ecosystem.
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Originally published on eWeek.
