Presto company Ahana has raised $20 million in Series A funding to transform open data lake analytics, bringing total funds raised to $24.8 million. The financing round was led by Third Point Ventures and included existing investors GV (formerly Google Ventures), Leslie Ventures, and Lux Capital.
Robert Schwartz, Managing Partner, Third Point Ventures will join Ahana’s Board of Directors.
With this investment, Ahana plans to continue to transform the open data lake analytics market with the only Presto SaaS by further accelerating engineering and contributions to the open source community, as well as expanding its go-to-market teams.
Under the Linux Foundation’s Presto Foundation, the Presto open source project has seen massive growth just in the past six months including hundreds of thousands of pulls of the Docker Sandbox Container for Presto hosted by Ahana, over 1,000 members in global Presto meetups, and a total of ten companies that are now part of the Presto Foundation.
“As we witness the evolution of modern analytics, we’re seeing a new stack emerge adjacent to the data warehouse. Companies need an open, flexible approach to access their data, and the data lake with Presto on top provides that,” said Robert Schwartz, Managing Partner, Third Point Ventures.
“Ahana Cloud provides the foundation for this new stack, giving all platform teams the ability to easily use Presto on their data lake. With Ahana, any company can leverage the open data lake for their analytics. This is extremely powerful,” Schwartz added.