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Company News : Hadoop-as-a-Service Leader Altiscale Raises $30 Million in New Funding
on 2014/12/9 10:01:53 (624 reads)
Company News

Altiscale, a provider of Hadoop-as-a-Service (HaaS) solutions, has announced it has raised $30 million in Series B funding. This latest round of funding is led by Northgate, with participation from previous investors Sequoia Capital and General Catalyst Partners. This funding round brings total investment in Altiscale to $42 million. These resources will be used to extend the company's lead within the HaaS market segment, one it pioneered. More specifically, they will be used to support the company's rapidly growing customer base, and will bolster the company's marketing, sales and product development efforts.

"Hadoop holds tremendous promise for the enterprise, but it remains extremely complex. This complexity makes the Hadoop market more susceptible to disruption than the enterprise application market was by SaaS," said Brent Jones, managing director at Northgate. "We are excited to lead this round for Altiscale as the company is addressing a huge market need with a faster and easier model for Hadoop adoption, and the customer validation proves it's working."

"We're extremely pleased to work with Northgate and our previous investors, Sequoia and General Catalyst," said Raymie Stata, Altiscale's founder and CEO. "Our vision is to deliver the most efficient and straightforward solution for any organization that wants to leverage the transformative power of Hadoop. The simple truth is that businesses don't want to cope with Hadoop's complexity. They just want the insights that can be used to improve their business. We enable them to focus on generating those insights and not worry about the underlying infrastructure."

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