Looker Continues Meteoric Rise; Secures $50M Series C Investment
It seems like only yesterday we first covered Looker, a fledgling Business Intelligence vendor with their own unique query language, LookML. After securing a Series B funding round worth $30 million in March of 2015, the company is once again making waves in enterprise analytics, this time announcing a Series C funding round worth almost $50 million, bringing their total funding earned to a whopping $94 million dollars since launching in 2013. This newest round of funding was led by Kleiner Perkins Caufield & Byers with participation from previous investors.
Since we first covered Looker back in March, the upstart analytics vendor has made notable upgrades to its line of enterprise-class BI solutions, most notably with enhancements to ‘Powered’ by Looker and Looker Blocks. If all the funding money pouring in and updated tools aren’t enough for you, Looker was also named to Gartner’s 2015 Cool Vendors in Analytics report, a ten-page study that outlines the most exciting up-and-coming solutions providers who are garnering attention amongst enterprise organizations.
Looker’s newest round of funding, according to the company, will be used to accelerate growth through investments in sales, marketing, and engineering, as well as to fuel more widespread international expansion. Looker opened its first EMEA office in London in 2015 and has begun to broaden its European customer base with several big-name partnerships.
Looker has seen exponential growth since their launch, and has driven 400 percent revenue growth by expanding its customer base from 150 just a year ago to more than 450 today. The company has also increased its average deal size by more than 30 percent, indicating that they are beginning to hook bigger fish. With new and growing enterprise customers expanding to include Kohler, Intel, eBay, PayPal, Zillow, Yahoo!, Sony, Autodesk, Lyft, BuzzFeed, Docker, Trip Advisor and others, it’s abundantly clear that the elite enterprise companies are starting to take notice.
This year, Looker has closed numerous partnerships with major data warehousing solutions to help its customers quickly and easily deploy a data platform wherever their data lives or however it is structured. These partnerships include well-known enterprise companies like Microsoft, IBM, Oracle, Amazon, Google, Cloudera, Databricks, Hortonworks, HP and Teradata.
Looker’s CEO Frank Bien expanded on this growth in a recent statement, saying: “We see 97 percent of customers accessing Looker at least once per day. It has become increasingly common to see the majority of employees across multiple, if not all, departments using Looker. They’re asking deeper questions of their data and making reliable, confident business decisions.”