While the world is in the midst of a pandemic, data lake engine company Dremio continues its growth spree. Dremio has closed $70 million in Series C funding.
- The round was led by new investor Insight Partners, with participation from existing investors Cisco Investments, Lightspeed Venture Partners, Norwest Venture Partners and Redpoint Ventures.
- With this investment, the company will continue fueling its rapid growth by investing in expanded product capabilities as well as scaling go-to-market and engineering operations across the globe.
- Headquartered in Santa Clara, California, Dremio was founded in 2015 by former MapR employees Shiran and Jacques Nadeau. The data analytics company has raised about $115 million till date.
- With this investment, Teddie Wardi, managing director, Insight Partners will also join the Dremio Board of Directors.
- Dremio has grown annual recurring revenue (ARR) over 3.5x over the past year and partnered with many of the world’s leading Global 2000 companies, to power their cloud and hybrid data lakes.
“Dremio addresses the key challenges enterprises face with data moving to the cloud at rapidly increasing volumes,” said Teddie Wardi, managing director at Insight Partners. “The open architecture, high performance, and low cost are benefits that all resonate strongly with customers. Catering to the needs of data teams, business users and IT alike, we believe Dremio is a foundational piece in building modern data platforms.”