Venture Capital News: JethroData Grabs $8.1M
NEW YORK, NY, JethroData, provider of the fastest SQL-on-Hadoop solution in the market, today announced that it has closed an $8.1 million Series B financing round.
The round was led by Square Peg Capital, and included existing investor Pitango Venture Capital. This latest funding round will be used to increase investment in sales, marketing and development of JethroData's unique technology.
'Eli and the amazing team at JethroData are bringing a revolutionary technology to enterprises. Hadoop users have gained great scale and cost effective storage, largely at the expense of performance. With JethroData, enterprises quickly see improved performance, making Hadoop a viable enterprise infrastructure,' said Arad Naveh, partner with Square Peg Capital. 'There is a huge market opportunity for interactive BI and fast SQL-on-Hadoop. We are proud to back JethroData and the company's breakthrough solution.'
This funding round follows closely on the heels of the general availability of JethroData's unique SQL-on-Hadoop software, which uses indexes to query data up to 100 times faster than alternative SQL on Hadoop solutions. JethroData works with popular business intelligence (BI) solutions, including Qlik, Tableau and MicroStrategy, to enable faster access to data and allow for true interactive BI.
'Business intelligence is still hampered in the big data world by slow access to Hadoop data. JethroData solves that issue, allowing BI on big data at a speed that users currently experience with their EDW systems,' said Eli Singer, co-founder and CEO, JethroData. 'JethroData is empowering enterprises to gain insights at the speed of business. With the support of Square Peg and Pitango, we're bringing interactive BI on big data to the enterprise.'
JethroData combines search engine indexing technology with modern column store database design to create a single solution. The resulting product addresses the growing business demand for storing vast amounts of data while providing lightning-fast queries. JethroData's breakthrough full-indexing technology enables BI users to enjoy interactive responses with big data. JethroData works seamlessly with any BI tool through a standard ODBC/JDBC interface, and is compatible with Hadoop distributions, including Cloudera, Hortonworks, MapR and Amazon.
'Our query performance on big data residing in Hadoop has improved dramatically since we started using JethroData,' said Slava Borodovsky, Senior Director of Business Intelligence at Fiverr and a JethroData customer since 2014. 'This validates our initial belief that JethroData is the superior approach to other solutions we have tried. We are now implementing JethroData in our BI infrastructure to give us better insights into Fiverr users' behavior.'
JethroData's index-based SQL engine for big data delivers the fastest analytics on Hadoop, enabling ad-hoc queries, live dashboards and interactive BI. JethroData customers enjoy the scalability of Hadoop with the performance of an analytical database, in one system. JethroData is headquartered in NYC and backed by world-class investors, Square Peg Capital and Pitango Venture Capital. To learn more, visit our website and follow us on Twitter.
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