Infoworks.io Raised $15 Million Series BStart-up in in enterprise data warehousing on Hadoop
This is a Press Release edited by StorageNewsletter.com on 2017.03.16
Infoworks.io, Inc., in enterprise data warehousing on Hadoop, closed $15 million in a Series B financing.
The company will use the financing to scale go-to-market and customer success programs to meet customer demand. Centerview Capital Technology led the round with participation by existing investor Nexus Venture Partners.
Ned Hooper of Centerview Capital Technology joins Buno Pati, Naren Gupta and Amar Arsikere on the company's board of directors.
Global enterprises need next-generation data warehouses to harness the power of big data. Legacy solutions do not scale cost-effectively and are unable to address the requirements of both structured and unstructured data. To date, efforts to build data warehouses on Hadoop have required extensive custom development, a significant investment in time and capital, and have largely failed to meet enterprise requirements.
Infoworks offers a fully automated, end-to-end data warehousing solution on Hadoop, enabling enterprises to create and manage large-scale solutions to support their rapidly growing portfolios of high-performance, highly concurrent analytics use cases.
"We are excited to partner with Centerview Capital Technology and work with Ned on the board as we focus on scaling and accelerating our go-to-market activities," said Amar Arsikere, CEO and co-founder, Infoworks. "The requirement to build data warehouses on Hadoop is critical for Fortune 500 companies to capture the value of their data. The Centerview Capital Technology team brings deep sector expertise, operational experience and meaningful relationships with IT and business executives at Fortune 500 companies that will help us continue to grow sales and meet customer demand."
"Building and managing data warehouses on Hadoop is imperative for enterprises in the age of Big Data," said Ned Hooper, Centerview Capital Technology. "We have been very impressed by the ease with which large, global companies have deployed the Infoworks platform. Amar has assembled a world-class team and we are excited to partner with them."