Over the past few years big data has transitioned from being a topic of discussion among the engineering elite to a mainstream meme for the business world and investors. Seeing the potential of the sector, Silicon Valley based Venture capital firm Accel Partner has announced that it will be allocating USD 100 million for its new Big Data Fund 2.
Accel will be using the capital to support entrepreneurs using technology for creating Data Driven Software (DDS). It has also added Anthony Deighton, CTO of QlikTech Inc. and Shlomo Kramer, CEO of Imperva to the Big Data Fund Advisory Council.
“We are seeing an accelerated rate of innovation in big data, with the newest generation of entrepreneurs re-imagining ways to extract the most value out of big data and fundamentally change the way we work and process information,” said Ping Li, Partner, Accel Partners.
DDS allows automatic harnessing of data from a variety of sources, analyzing it and presenting real-time insights to the business’ end users. It takes care of the data science and empowers users to ask bigger questions.
Accel Partners has funded a number of companies that build data infrastructure platforms and DDS which include Cloudera, Couchbase, Lookout, Nimble Storage, Opower, Prismatic, QlikTech Inc., RelateIQ, Sumo Logic, and Trifacta.
Founded in 1983, and managing over $9.6 billion in capital, Accel Partners invests globally with its offices in Palo Alto, California, New York City, London, Bangalore & China.Category Investments News Technology