Qubole, an enormous big data as a service organization, reported it has raised a $25 million vital round of financing, driven by Singtel Innov8 and Harmony Partners, with cooperation from Charles River Ventures (CRV), Lightspeed Venture Partners, Norwest Venture Partners and Institutional Venture Partners (IVP). Established in 2011, the Santa Clara, California-based startup gives the framework to process and investigate information more effectively. Singtel Innov8’s success provides a vital anchor to Qubole’s APAC extension. Proceeding at the organization’s speed, Qubole declared Kevin Kennedy as Chief Operating Officer, and Mohit Bhatnagar as Senior Vice President of Products.
“There is a significant opportunity for big data in the Asia Pacific region. Qubole makes it easy for enterprises to access best-in-class analytics for quicker, more accurate decision making in a cost-efficient way,” said Punit Chiniwalla, Senior Director, Singtel Innov8. “We are excited to partner with Qubole and their incredibly talented team.”
Qubole claims to process about an exabyte of information in the cloud every month for more than 200 enterprises, including Autodesk, Lyft, Samsung, and Under Armor. Lyft uses Qubole to process information for route enhancement, coordinating drivers with clients faster. Qubole offers a stage as an administration (PaaS) that runs on Amazon Web Services (AWS), Microsoft Azure, and Oracle Cloud.
“Google is something we’re taking a look at,” said Ashish Thusoo, CEO and cofounder of the company. “Qubole is now at a pivotal growth point. Our sales momentum and product innovation in the last year have propelled us to the next stage of our global expansion. As big data market demands continue to grow and evolve, this strategic investment and the addition of Kevin and Mohit to our leadership team position Qubole as the leader in helping enterprises around the world successfully meet their big data project goals.”
Qubole has raised a sum of $75 million to date. The company plans to use the new cash to build up its product, progress sales and advertising endeavors, and extend their operations into Asia Pacific.