What you missed in Big Data: VCs and IPOs
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It’s investors who set the pace for analytics last week as no fewer than three database startups separately raised additional funding to step up their efforts toward changing the way enterprises manage their vast information troves. Basho Inc. kicked off the funding bonanza by bagging $25 million from Georgetown Parners to fuel its aggressive growth strategy.
The firm has seen demand for its platform nearly double in the past 12 months even as new competitors such as FoundationDB Inc. entered the ring with their own reliability-focused solutions for storing unstructured data. Basho CEO Adam Wray told SiliconANGLE he will use the new funding to go on the offensive by expanding global presence through partnerships while at the same time building out new features.
MapR Technologies Inc. also had some big business news to share. Two days after the Basho funding was announced, MapR founder John Schroeder revealed in an interview that he intends to follow rival Hortonworks Inc. to the stock exchange sometime in the latter part of this year, a long-planned push that has been in the works since at least early 2013. The move could significantly up the ante for the Hadoop ecosystem, where Hortonworks’ stock has held its own despite a rough couple of weeks for the stock market.
But by the next morning, Neo Technology Inc. had already turned the industry spotlight back to the database world with the closing of a $20 million round led by Nordic venture capital powerhouse Creandum. The financing comes amid increased competition from other graph database vendors, namely the also-recently-funded Dato Inc. (formerly GraphLab, Inc.).
With another $20 million in the bank, Neo is in a better position to preserve its namesake system’s place at the top of the category. Neo4j has been downloaded about half a million times since the second major release launched in January, popularity that the new features and potential partnerships set to follow in the wake of the financing should only help
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