Dremio, a Santa Clara, Calif. – based data lake transformation company, closed $160 million in Series E funding, bringing its valuation to $2 billion.
The round was led by Adams Street Partners, with participation from existing investors Sapphire Ventures, Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, and Cisco Investments, joined by other new investors including StepStone Group and DTCP.
The company intends to use the funds to accelerate its technology innovation, grow its customer-facing organization, contribute to open-source initiatives, and invest in educating and enabling a growing community of data lake practitioners.
Company: Dremio Corporation
Round: Series E
Funding Month: January 2022
Lead Investors: Adams Street Partners
Additional Investors: Sapphire Ventures, Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, Cisco, StepStone Group and DTCP
Company Website: https://www.dremio.com/
Software Category: SQL lakehouse platform
About the Company: Founded in 2015 by Billy Bosworth, CEO, Dremio is a comprehensive SQL lakehouse platform helping out companies with interactive analytics and high-performing BI on data lake storage. The platform eliminates costly, rigid, and complex data pipelines making it easier for users to move and copy data into the proprietary data warehouses. In addition, it also eliminates performance-oriented copies of data, such as extracts, cubes, and aggregation tables to provide lightning-fast analytics. Dremio is an SQL engine that sits between data lake storage and end-users who want to directly query that data for high-performing dashboards and interactive analytics, without the need for copying data into data warehouses or creating cubes, aggregation tables, and BI extracts. The company serves customers across industries — including brands like KKR, Swiss Re, FactSet, NCR, and Nutanix.