AtScale, Focused on BI and Hadoop, Bags Another $11 Million in Funding
In recent months, tools that demystify and function as useful front-ends and connectors for the open source Hadoop project are much in demand. Hadoop has been the driving technology behind much of the Big Data trend, and there are many administrators who can benefit from simplified dashboards and analytics tools that work with it. In fact, as we covered here, MapR's CEO predicted that IT will embrace self-service Big Data to allow developers, data scientists and data analysts to directly conduct data exploration."
AtScale is one of the companies focused on demystifying Hadoop. Billed as “the first company to allow business users to do business intelligence on Hadoop,” the company previously raised a Series A round of $7 million in funding led by UMC Capital. Now the company has announced that it has raised a Series B round of $11M, bringing its total funding to date to $20M. Led by Comcast Ventures, this round also saw the participation of UMC, AME Ventures as well as Storm Ventures and XSeed Capital.
Launched publicly a year ago, AtScale recently announced five-fold revenue growth and has customers ranging from Aetna to Home Depot, Bloomberg, Groupon and Yellow Pages. The company's focus is on marrying Business Intelligence (BI) tools with Hadoop."With this new financing, the company is poised to accelerate growth and drive innovation enabling enterprises to derive insights on massive data sets in Hadoop as evidenced by partnerships in the industry, including Comcast," said Matt Carbonara, Principal at Comcast Ventures. "Comcast Ventures is excited to help AtScale by facilitating access to significant resources and expertise via our vast enterprise and service provider ecosystem."
Meanwhile, there are some bold predictions for Hadoop's growth going forward. MarketResearchReports.biz has announced the addition of a recent report, titled ‘Global Hadoop Market 2015-2019,’ to its online repository. According to the report, the global Hadoop market is expected to expand at a CAGR of more than 53% during the period between 2015 and 2019 due to factors such as the increasing demand for cost-effective solutions to meet the needs of big data in enterprises.
That report followed Technavio's study predicting the global Hadoop market to grow at a CAGR at more than 50% over the next four years. Meanwhile, Allied Market Research has forecasted that the global market for Hadoop along with related hardware, software, and services will reach $50.2 billion by 2020.