WekaIO (WEKA), Campbell, CA-based data platform provider for next-generation workloads, announced that it raised $135 million in an oversubscribed Series D funding round led by Generation Investment Management.
Several notable new and existing investors also contributed, including 10D, Atreides Management, Celesta Capital, Gemini Israel Ventures, Hewlett Packard Enterprise, Hitachi Ventures, Key1 Capital, Lumir Ventures, Micron Ventures, Mirae Asset Capital, MoreTech Ventures, Norwest Venture Partners, NVIDIA, Qualcomm Ventures, and Samsung Catalyst Fund.
The new funding will enable the company's continued investment in developing the WEKA® Data Platform to expand its features and cloud integrations, support new use cases, and accelerate the delivery of innovative solutions to its customers.
It will also allow WEKA to reach profitability, fuel significant global expansion, and rapidly scale its cloud, customer success, sales, marketing, operations, and human resources teams.
"In 2013, WEKA set out with a bold vision to create a fundamentally new approach to managing and storing data that could power the possibilities of the future by eradicating the compromises of the past," said Liran Zvibel, co-founder and CEO of WEKA. "This funding round represents a tremendous milestone in realizing that vision, and we are grateful to our new and existing investors for their support. The new capital will allow us to invest in our product and go to market, maintain hypergrowth, and give us the runway we need to become a profitable, independent company."
Despite recent volatility and uncertainty in the global financial markets that have widely impacted startup valuations and investments, the company also doubled its previous valuation in the round.
Company: WekaIO, Inc.
Raised: $135.0M
Round: Series D
Funding Month: November 2022
Lead Investors: Generation Investment Management
Additional Investors: 10D, Atreides Management, Celesta Capital, Gemini Israel Ventures, Hewlett Packard Enterprise, Hitachi Ventures, Key1 Capital, Lumir Ventures, Micron Ventures, Mirae Asset Capital, MoreTech Ventures, Norwest Venture Partners, NVIDIA, Qualcomm Ventures, and Samsung Catalyst Fund
Company Website: https://www.weka.io/
Software Category: AI-Focused Data Platform
About the Company: WEKA is the only data management provider that delivers a software-based solution that supports next-generation workloads with uncompromising speed, scale, simplicity, sustainability, and seamless data portability. The WEKA® Data Platform is purpose-built for the cloud and AI era. Its advanced cloud-native architecture is optimized to solve complex data challenges, delivering 10-100x performance improvements, whether running on-premises, in the cloud, at the edge, or in hybrid and multi-cloud environments. WEKA is fueling research and discovery breakthroughs and accelerates business outcomes for leading global enterprises – including eight of the Fortune 50. The company operates in over 20 countries and is backed by dozens of world-class investors.
Source: https://www.prnewswire.com/news-releases/weka-raises-135m-to-fuel-hypergrowth-and-global-expansion-301676091.html