Pune-headquartered software services company Persistent Systems Ltd has invested an undisclosed sum in US-based Cazena, Inc., which enables businesses to move and optimise Big Data processing in the cloud, as part of a $10 million funding round.
Existing investors Andreessen Horowitz, Formation 8, and Northbridge Venture Partners led the round, Cazena said, adding that it will use the funds to accelerate go-to-market activities.
Founded in 2015, Massachusetts-based Cazena offers Big Data as a Service with built-in development operations for analytics.
Cazena said it enables enterprises to have supported, production-grade Hadoop or Spark data environments in the cloud, without hiring expensive and hard-to-find development operations resources.
“Since going GA (general availability) last year, we have seen a 300% growth in our business. Our goal is to accelerate enterprises’ ability to leverage analytics, machine learning and artificial intelligence, without hiring or re-training the firms’ workforce,” said Prat Moghe, founder and chief executive of Cazena.
Cazena’s flagship solution is its fully-managed and automated cloud Data Lake, which offers a SaaS-like experience for analytics and business teams, with enterprise features for information technology. SaaS is software as a service.
As part of the investment round, Cazena said it has partnered Persistent Systems to extend the cloud Data Lake with self-service data discovery and data services for enterprises that don’t have data engineering or machine learning skills.
Founded in 1990 by IIT-Kharagpur alumnus Anand Deshpande, chairman and managing director of Persistent Systems, the firm develops software solutions for telecom, banking and financial services, life sciences and healthcare sectors.
Deals by Persistent Systems
In August 2017, Persistent Systems had acquired Swiss firm Parx Werk AG to strengthen its expertise in Salesforce software.
In 2016, it had acquired Australia-based PRM Cloud Solutions.
In 2015, Persistent had made two acquisitions. It bought Ireland-based technology firm Aepona Holdings Ltd and US-based software company Akumina Inc.’s content management services business.