Dremio Raises $135 Million in Series D Funding to Drive Data Lake Transformation for Global Enterprises
Summary
SANTA CLARA, Calif.--(BUSINESS WIRE)--Dremio, the innovation leader in data lake transformation, today announced it has raised $135 million in Series D funding, bringing the company’s valuation to $1 billion. “ Dremio’s technology fundamentally simplifies workflows, allowing analytics directly on your full data set, stored in industry-standard open formats, residing in native cloud storage. We are pleased to have Sapphire Ventures on the investor team to help make that possible.” Dremio’s product was built with performance, security, governance and scalability features for the modern enterprise software ecosystem, allowing its growing list of customers across industries — including brands like UBS, NCR and Henkel — to see how data was queried, transformed and connected across sources. “ As enterprises increasingly use cloud storage platforms, such as Amazon Web Services’ S3 and Azure’s ADLS, they’re looking for ways to use that data where it is, and by as many groups as possible in order to make insightful business decisions,” said Anders Ranum, Managing Director at Sapphire Ventures. Leveraging nearly two decades of experience and an extensive global executive network, Sapphire invests capital, resources and expertise to enable its portfolio companies to scale rapidly through a powerful business development, marketing and talent platform.
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