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Venture Capital News: Dremio Completes $160M Series E Funding

SANTA CLARA, CA, Dremio, the innovation leader in data lake transformation, has closed a $160 million Series E funding round, bringing the company's valuation to $2 billion.
This preemptive fundraising occurred just one year after a $135 million round led by Sapphire Ventures in January 2021.

The new fundraising round is led by Adams Street Partners with participation from existing Dremio investors: Sapphire Ventures, Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, and Cisco Investments. Adams Street Partners is joined by other new investors, including StepStone Group and DTCP. The investment will help Dremio accelerate its technology innovation, grow its customer-facing organization, contribute to open-source initiatives, and invest heavily in educating and enabling a growing community of data lake practitioners.

Dremio reimagines the data lake service to deliver faster time to analytics, eliminating the need for expensive proprietary systems, and providing data warehouse functionality and beyond. Dremio eliminates the need to copy and move data to proprietary data warehouses or create cubes, aggregation tables and BI extracts, providing flexibility and control for Data Architects, and self-service for data consumers. Founded in 2015, Dremio is headquartered in Santa Clara, CA.
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