Datameer, a Big Data analytics provider has secured $40 million in Series E round of funding led by Singapore-based ST Telemedia along with other participants that include Top Tier Capital Partners, Kleiner Perkins Caufield & Byers, Redpoint Ventures, Next World Capital, Software AG, Citi Ventures.
Founded in 2009 by the CEO Stefan Groschupf, Datameer operates to provide business users with an end-to-end Big Data analytics application native for Hadoop. The open source Hadoop spread computing framework that is set to assist businesses run analytics of large data sets. Various top companies like Citi, Telefonica, Workday, VISA and 200 more companies integrate, prepare and analyze and visualize data with the help of Datameer.
In a press release Groschupf said, “It’s exciting that Datameer is in such high demand that our customer base has been a significant contributor to our sustainability. He also added, “Now, the additional support from our investors will help take us to the next level. I think that in a couple or three years, we can be at a revenue size that the next major finance event (an IPO) is coming. We are building a team out to make a sustainable company.”
With the new funds, the company has made plans to strategically develop its teams in all the business verticals and to boost its expansion globally. Groschupf also plans to get set for IPO with the fresh funds.