Cloudera Secures $25 Million in Series C Funding, Led by Meritech Capital Partners
Cloudera Continues to Grow and Attract Investment With Heightened Demand for Production-Ready Hadoop Platforms
Palo Alto, Calif. – Oct. 26, 2010 – Cloudera, a leading provider of Apache Hadoop-based data management software and services, today announced that it has secured $25 million in a Series C financing led by Meritech Capital Partners. The company’s current investors, Accel Partners and Greylock Partners, also participated. The funding will be used to further invest in product development and services to support growth and adoption of Hadoop by enterprise organizations. Today’s funding follows a Series B investment of $6 million led by Greylock Partners in June 2009. This brings Cloudera’s total funding to $36 million.
“Cloudera has emerged as a clear leader in driving enterprise adoption of Hadoop. The company’s execution on product and services is impressive,” said Rob Ward, managing director of Meritech Capital Partners. “Enterprises will continue to produce massive amounts of data and Hadoop is proving to be critical to making sense of that data. With Cloudera’s track record, vision, products, team and partnerships, the company is well-positioned to be the major catalyst in driving Hadoop adoption.”
More and more organizations are turning to Hadoop to meet the deluge of data they are faced with because it offers a cost-effective platform for capturing, consolidating and analyzing data. Cloudera provides both software and services that make it faster and easier to put Hadoop into production. The company has experience helping large and small organizations get more value out of their data. This new round of investment will expand Cloudera’s ability to meet the growing interest around Hadoop and related technologies.
“Hadoop adoption among enterprises is strong and accelerating,” said Mike Olson, CEO of Cloudera. “This year, we released major upgrades to our open source platform and introduced Cloudera Enterprise, our subscription offering with the tools and support necessary for mission-critical Hadoop deployment. As customer interest intensifies in the US and around the world, we need to increase our capacity and reach. Meritech’s investment helps us advance our offerings and satisfy the high demand we’re seeing.”
“Cloudera continues to prove itself to be a disruptive data management player,” said Ping Li, general partner at Accel Partners. “Enterprises are swamped by data today and they desperately need a way to store, analyze and act on it. We’ve always believed that Cloudera is uniquely positioned to become a category leader in a growing market around data management by solving those problems. The demand we see for Cloudera’s products is great validation.”
About Meritech Capital Partners
Meritech Capital Partners is a premier expansion stage venture capital firm that invests in category defining private technology companies. With over $2.2 billion under management, Meritech seeks to lead investments in companies with proven and differentiated technology, strong market presence, accelerating revenue and seasoned management teams. As one of the most active late-stage investors, Meritech provides informed guidance on a number of issues that the most promising private companies face as they continue to rapidly scale. Representative portfolio companies include Facebook, Fortinet (FTNT), Fusion-IO, Greenplum, Netezza (NZ), NetSuite (N), Riverbed (RVBD), Salesforce.com (CRM), SpringSource and TeleAtlas, among others. Meritech is located in Palo Alto, CA (www.meritechcapital.com).
Cloudera, the leader in Apache Hadoop-based software and services, enables data driven enterprises to easily derive business value from all their structured and unstructured data. Cloudera's Distribution including Apache Hadoop (CDH), available to download for free at www.cloudera.com/downloads, is the most comprehensive, tested, stable and widely deployed distribution of Hadoop in commercial and non-commercial environments. For the fastest path to reliably using this completely open source technology in production for Big Data analytics and answering previously un-addressable big questions, organizations can subscribe to Cloudera Enterprise, comprised of Cloudera Manager software and Cloudera Support. Cloudera also offers training and certification on Apache technologies, as well as consulting services. As the top contributor to the Apache open source community and with tens of thousands of nodes under management across customers in financial services, government, telecommunications, media, web, advertising, retail, energy, bioinformatics, pharma/healthcare, university research, oil and gas and gaming, Cloudera's depth of experience and commitment to sharing expertise are unrivaled. www.cloudera.com