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Big Data Funding Round Up This Week


Written by  Raja Rao | 12 December 2012
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Big Data FundingBig Data world is going crazy with massive investments as the best year for the domain is coming to an end. The predictions that 2013 is going to be the year where businesses will spend big on big data platforms to unlock the value and redefine their data strategies, is further supported by the investments that are being announced on big data platforms.  This month has been another big one for large scale investments on big data domain.

Cloudera

What started as a big data project on top of Hadoop few years ago, it ended up with pretty big money this week. $65 milllion to be precise of funding from Accel Partners, with support from Greylock Partners, Ignition Partners, In-Q-Tel, and Meritech Capital Partners. This should really set the tone for expansion of Cloudera in 2013 not just with continued development of its big data platform but secure the much required international presence with, you guessed it, a brand new European headquarters in UK in the first quarter itself.

Cloudera claims that its business has more than doubled in all areas. IT provides support and management to ensure production-ready deployment of CDH4, widely deployed and proven commercial distribution of Apache Hadoop. ITs customer base includes more than half of the Fortune 50, and includes companies such as AOL, CBS, EBay, Expedia, Experian, JP Morgan Chase, Monsanto, Morgan Stanley, Network Appliance, Nokia, RIM, and The Walt Disney Company.

ClearStory Data

This 2012 startup, ClearStory Data delivers big data solution that makes it simple for business users to find, combine and interactively analyze data from corporate sources and disparate third-party sources. The company announced the closing of a $9 million Series A financing round with Kleiner Perkins Caufield & Byers, and joined by previous seed round investors Andreessen Horowitz and Google Ventures. IT provides combined and up-to-date insights with data from data sources including relational databases, Hadoop, Web and social application interfaces, and third-party data providers.

Coveo

The company announced that it has secured $18 million in funding, in a round led by Tandem Expansion Fund. All major existing investors also participated in the round, including BDC Venture Capital, Propulsion Ventures SEC and Fonds de solidarité FTQ.  This funding will be used to expand the company's sales and marketing efforts, and to help scale operations in advance of anticipated hyper growth and provide support ITs expansion looking to provide actionable insight from Big Data. The company claims to have grown 80 to 100 percent year-over-year and operating at or close to profitability.

Coveo recently launched Coveo for Salesforce, a cloud-based application integrated into the Salesforce.com UI which brings the collective knowledge to every Salesforce user, delivering actionable insights for every customer interaction. Coveo automatically recommends content relevant to what the user is working on, whether that is an account, a lead, an opportunity or a case. It consolidates fragmented information from across a variety of cloud-based and social platforms, or on-premise databases or systems.

Raja Rao

Raja Rao

RajaRao is our Cloud Journalist writing for ToolsJournal on Cloud Tools, Latest updates, Cloud Quick Lists and more. He has done his Bachelors of Engineering in Civil and has been in IT for over 15 years with good expertise on CRM, Peoplesoft, SAP, Microsoft and .Net technologies. Raja comes with fantastic blend of Technical, Solutions and Delivery expertise. Loving the concept of ToolsJournal he has joined us full time and has been tremendous help to take this portal forward. 

You can reach Raja at raja@toolsjournal.com 

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