MapR Technologies Closes $30 Million in New Funding
March 19, 2013
Investment to accelerate global expansion and Hadoop technology leadership
MapR Technologies, Inc., the Hadoop technology leader, today announced it has closed a new round of funding, securing $30 million in series C financing. New investor Mayfield Fund led the funding round, which also includes participation from existing investors Lightspeed Venture Partners, NEA and Redpoint Ventures bringing total funds raised to $59 million.
"By delivering on the promise of Hadoop, MapR has propelled big business to embrace Big Data," said Navin Chaddha, Managing Director, Mayfield Fund. "We are honored to partner with the world-class MapR team, which has built a proven technology platform that is being embraced by customers and partners. With the large market opportunity for Big Data, estimated by analysts to reach $5 billion by 2016, we believe that MapR is in a great position to emerge as the Big Data platform of choice for enterprises."
"Organizations across industries have experimented and tested various use cases on Hadoop. Now we are entering a new phase where the focus is on production deployments which calls for the broad support of applications that MapR uniquely provides," said John Schroeder, CEO and Co-Founder, MapR Technologies. "We're excited to have Mayfield join our team of top-tier investors. We'll leverage their deep expertise in Big Data to continue to accelerate our hyper-growth business."
The new financing will be used for worldwide expansion and continued segment-leading investment in research and development.
MapR will be expanding in Asia Pacific to serve the company's growing customer base in the region. Late last year, MapR launched its European operations with offices in London and Munich to meet the needs of its growing customer and partner community across Europe.
Today, the MapR Big Data Platform is being used in production deployments across financial services, government, healthcare, manufacturing, retail and Web 2.0 companies to drive significant business results and includes the analysis of hundreds of billions of objects a day; 90% of the Internet population monthly; and over a trillion dollars of retail transactions annually.
MapR will continue to invest in the research and development of the MapR world-record setting, enterprise-grade distribution for Hadoop that offers IT organizations the only Hadoop platform with full data protection, no single points of failure, improved performance and dramatic ease of use advantages. MapR's latest technology accomplishments include the unveiling of MapR M7, providing ground breaking capabilities for Apache HBase™ to enhance Big Data operations and real-time database functions performed with enterprise-grade reliability and protection.
MapR continues to participate in the development of Apache Drill, a highly transparent, open source project that is a distributed system for interactive analysis of large-scale datasets. Apache Drill represents a huge leap forward for organizations looking to augment their Big Data processing with interactive queries across massive data sets.
About Mayfield Fund
Mayfield Fund is a global venture capital firm with over $3 billion under management and a 43-year history of investing in relationships. Mayfield invests primarily in early-stage IT companies that leverage the drivers of mobile, cloud/SaaS, social, energytech, and big data. Since its founding in 1969, the firm has invested in more than 500 companies, resulting in over 100 IPOs and more than 100 mergers or acquisitions. For more information, visit www.mayfield.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.