MapR Closes $110 Million Financing Led by Google Capital
June 30, 2014
Financing to accelerate rapid growth of global enterprise customers using the top-ranked distribution for Apache Hadoop
MapR Technologies, Inc., provider of the top-ranked distribution for Apache™ Hadoop®, today announced that it has completed a $110 million financing. Google Capital led the $80 million equity financing. Also participating was Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures, and existing investors including Lightspeed Venture Partners, Mayfield Fund, NEA and Redpoint Ventures. In addition to the equity financing, MapR completed a debt facility of $30 million led by Silicon Valley Bank.
"MapR helps companies around the world deploy Hadoop rapidly and reliably, generating significant business results,” said Gene Frantz, general partner at Google Capital. “We led this round of funding because we believe MapR has a great solution for enterprise customers, and they’ve built a strong and growing business.” In conjunction with this investment, Mr. Frantz will join the MapR Board of Directors.
"Google has a long-standing commitment to Hadoop, making Google Capital an ideal investor for MapR. This investment round recognizes our customers’ rapid adoption, their tremendous results and ROI, and also the capital efficiency of our business model,” said John Schroeder, CEO and co-founder of MapR Technologies. “It’s extremely gratifying to bring these high-caliber strategic investors on board, including Qualcomm who is the leader in the mobile ecosystem and also at the forefront of the Internet of Things, to help us accelerate growth and position the company for global leadership. Our installed base of more than 500 paying licensees provides a strong foundation and we are excited to move forward with the tremendous resources from our new and current financial investors.”
The financing will be used by MapR to continue its growth in the big data and analytics segment. MapR tripled bookings in the first quarter of 2014 over 2013 and the new funding will increase worldwide go-to-market programs to accelerate the deployment of MapR in mission-critical, real-time, and operational use cases.
“Hadoop is a cornerstone for the big data ecosystem, and MapR has demonstrated its leadership in the space,” said Albert Wang, director, Qualcomm Ventures. “We invested in MapR because of the strength of its technology in leveraging the expanding Internet of Things and providing immediate business benefits."
MapR has significant production Hadoop environments in financial services, healthcare, media, retail, telecommunications, and Web 2.0 companies. The investment will also fund additional engineering resources to further its technology advantage and support open source projects, such as Apache Drill, Hadoop 2.2 with YARN, and Apache Spark.
About Google Capital
Google Capital is a growth equity fund backed by Google. Google Capital invests in companies that use technology to change the way people experience the world. Advised by Google technology and product leaders, the Google Capital team has the extensive operational and technical expertise to make smarter investments and help our portfolio companies succeed. Google Capital's investments to date include SurveyMonkey, Lending Club, and Freshdesk. (www.googlecapital.com)
About MapR Technologies
MapR Technologies is a visionary Silicon Valley software company and creator of the next-generation data platform for AI and analytics, with the scale and reliability required by enterprise-grade, mission-critical deployments. The MapR Data Platform delivers the power of dataware to accelerate data-driven innovation. Forward leaning companies such as Cisco, Philips, and Société Générale, are able to create new data-driven solutions to outperform the competition. Learn more: mapr.com.
MapR is a registered trademark of MapR Technologies, Inc. in the United States and other countries. Other names and brands may be the property of others.