hírek
Varada raises $7.5m
Varada, the Tel Aviv data indexing specialist, has raised a $7.5 million seed funding round led by Lightspeed Venture Partners, with participation by StageOne Ventures and F2 Capital.
The round was secured in two phases, with $2.5 million of investment initially led by StageOne Ventures and F2 Capital last year and the completion of the round led by Lightspeed Venture Partners, including existing investors, to expand business operations and development.
Most of the value of data is untapped, says Varada, due to the heavy investment that is required for data infrastructure, data preparation and simplifying data access.
Additionally, the architecture of most data infrastructures is rooted in hardware where the main storage media is spinning drives, the network bandwidth is limited and the I/O latency is high, creating limitations that necessitate data preparation.
With the advent of cloud, data lakes are becoming the primary storage solution for enterprise data, enabling a simple, highly available and low cost ‘source of truth’.
Enterprises can store data in a data lake and worry about its uses later. However, using the stored data to build data products is challenging, requiring a constant trade-off between time to market and cost effectiveness.
Varada’s on-demand SQL analytics tier allows data practitioners to define any dataset of interest directly on the data lake, and to analyze it interactively using SQL or BI tools without the need for data preparation or modeling.
Varada claims that it’s inline indexing technology can provide interactive sub-second analytics across any dimension or schema, directly on petabyte scale data lakes.
The round was secured in two phases, with $2.5 million of investment initially led by StageOne Ventures and F2 Capital last year and the completion of the round led by Lightspeed Venture Partners, including existing investors, to expand business operations and development.
Most of the value of data is untapped, says Varada, due to the heavy investment that is required for data infrastructure, data preparation and simplifying data access.
Additionally, the architecture of most data infrastructures is rooted in hardware where the main storage media is spinning drives, the network bandwidth is limited and the I/O latency is high, creating limitations that necessitate data preparation.
With the advent of cloud, data lakes are becoming the primary storage solution for enterprise data, enabling a simple, highly available and low cost ‘source of truth’.
Enterprises can store data in a data lake and worry about its uses later. However, using the stored data to build data products is challenging, requiring a constant trade-off between time to market and cost effectiveness.
Varada’s on-demand SQL analytics tier allows data practitioners to define any dataset of interest directly on the data lake, and to analyze it interactively using SQL or BI tools without the need for data preparation or modeling.
Varada claims that it’s inline indexing technology can provide interactive sub-second analytics across any dimension or schema, directly on petabyte scale data lakes.