Dremio Raises $160 Million at $2 Billion Valuation

Dremio is a company that develops a data lake platform that provides tools for data streamlining and curate. The company’s SQL data software is based on Apache Arrow, an open-source framework for in-memory analytics.

The Series E funding round was led by Adams Street Partners. New investors were StepStone Group and DTCP, and existing investors were Sapphire Ventures, Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, and Cisco Investments. The money raised will be used for technology development, customer-facing organization increase, and open-source initiatives contribution.

Dremio, California-based, was founded by Jacques Nadeau, Tomer Shiran in 2015. Among the company’s customers are Adobe, Airbus, Deloitte, EY, Henkel, etc. “The market momentum towards cloud data lakes is now irrefutable. The only question left is how quickly customers can take advantage of these modern open data architectures,” Dremio CEO Billy Bosworth. Dremio positions itself as a data lake engine platform provider. The data lake technology is an alternative to traditional data warehousing. The company’s aim is to enable a growing community of data lake practitioners.

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