California-headquartered Qubole, the big data-as-a-service company, has raised a $30 million Series C funding, bringing its total funding to $50 million. Institutional Venture Partners (IVP) led the round and General Partner Somesh Dash will join the Qubole board of directors. Existing investors CRV, Lightspeed Venture Partners and Norwest Venture Partners also participated in the funding round.
The raised funding will be used by the company to expand the availability of Qubole Data Service (QDS), a self-service platform for big data analytics, and to integrate new data engines so customers can choose the right tool for their data analytics needs.
Qubole also plans to target several new verticals, including Internet of Things (IoT), life sciences and retail. Additionally, the company will target larger enterprises that are accelerating their usage of the cloud. It will also expand its customer acquisition efforts in the APAC and EU regions. The firm has offices in Bangalore, India.
Founded by Ex-Facebook Big Data engineers Joydeep Sen Sarma & Ashish Thusoo in 2011, Qubole helps users to turn big data into business insights. It now processes 250+ petabytes of data each month on its cloud-based big data analytics platform. The firm currently runs on the public clouds including Amazon Web Services, Google Cloud Platform and Microsoft Azure – and over the next year it will expand its cloud-agnostic platform to integrate with additional cloud providers.
“This additional investment will enable us to expand our efforts in sales, marketing and product development while continuing to serve our current customers with excellence,” said Ashish Thusoo, CEO and Co-founder of Qubole. “As the clear leader in the market, Qubole is establishing the standard for how enterprises process big data in the cloud.”
Its customers include Pinterest, BloomReach, Datalogix (Oracle), Fanatics and TubeMogul. In December 2014, the firm had raised $13 million in series B round led by Norwest Venture Partners and $7 million in series A funding from LightSpeed Ventures, Charles River Ventures, Anand Rajaraman, and Venky Harinarayan in April 2013.