Starburst Data has raised $ 100 million as the data analytics company continues to ride the surge in data lakes. Andreessen Horowitz led the round, which included Index Partners, Coatue, and Salesforce’s venture capital arm.
The funding comes just six months after Starburst raised $ 42 million, bringing its total to $ 164 million for a valuation of $ 1.2 billion. And the latest announcement came on the same day another data lake company, Dremio, announced it had raised $ 100 million.
So what’s this arms race all about? As companies grapple with growing amounts of information, data lakes allow them to pool structured and unstructured data in one spot, which then facilitates the movement and processing of that data.
“We believe we are solving the biggest problem that the big data era couldn’t: offering fast access to data, regardless of where it lives,” Starburst CEO Justin Borgman wrote in a blog post.
In the case of Starburst, it’s built on Presto, an open source project developed at Facebook. Indeed, three of Starbursts’ cofounders are from Facebook, where they worked on the project.
Starburst began life as Hadapt, a startup founded by Borgman. Teradata acquired Hadapt in 2014 but spun Starburst off in 2017. Along the way, Hadapt-Starburst shifted its focus from Hadoop to Presto.
VentureBeat’s mission is to be a digital townsquare for technical decision makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you,
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform
- networking features, and more.