Big Data firm Qubole raises $30M from IVP, others

Bangalore-and US-based Big Data firm Qubole Inc has raised Rs 203.34 crore ($30 million) in Series C funding led by Institutional Venture Partners (IVP).  

Existing investors CRV, Lightspeed Venture Partners and Norwest Venture Partners have also invested additional capital in the company as part of the financing. The funds will be used to expand Qubole Data Service (QDS), its Big Data analytics platform.  

Somesh Dash, general partner at IVP, will join Qubole’s board as part of the deal. 

With the fresh infusion, the total investment raised by Qubole has touched $50 million. Last year, the Big Data-as-a-Service company had raised Rs 88.11 crore ($13 million ) in Series B funding led by Norwest Venture partners.

“As more data is created in the cloud than on premises, enterprises need a complete Big Data solution that can provide SQL, machine learning, real-time analytics and batch processing in the cloud,” said Dash. 

The company is also looking to target several new verticals, including Internet of Things (IoT) and life sciences and retail, and will be expanding its customer acquisition efforts in Asia and Europe.

Qubole’s clients include Datalogix (Oracle), BloomReach, Pinterest, TubeMogul and Fanatics. 

“This investment will enable us to expand our efforts in sales, marketing and product development,” said Ashish Thusoo, co-founder and CEO of Qubole.

The startup was co-founded by IIT-Delhi alumni Ashish Thusoo (CEO) and Joydeep Sen Sarma (head, Qubole India) in 2011. Prior to starting Qubole, they built and ran a data service for social networking site Facebook.  

Qubole runs on large public clouds including Amazon Web Services, Google Cloud Platform and Microsoft Azure. Next year, the firm will integrate its platform with that of other cloud providers. At present, Qubole processes more than 250 petabytes of data each month on its cloud-based Big Data analytics platform.

Qubole competes with Saama Technologies, DataWeave, Mortar Data (acquired by Datadog), Altiscale and Treasure Data among others.

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