Top 16 Big Data and Analytics Funding Rounds of 2020
Big data and analytics funding rounds are increasingly common in what has become a very competitive vendor landscape. Our editors compiled this list of the top big data and analytics funding rounds so far in 2020.
Big data is big business, and the marketplace for data and analytics software is gushing with innovative options to help organizations turn data into an information asset. Proliferation in the big data solutions space has seen a vibrant technology landscape grow even brighter, with lots of interest from outside firms to get in on the action. With billions invested and trillions in valuation, data and analytics providers are beginning to emerge as some of the fastest-growing companies on the planet. With this in mind, our editors have compiled this list of the top big data and analytics funding rounds of 2020.
Follow our Analytics and Business Intelligence news section for more about big data and analytics funding and all the most relevant stories for practitioners.
Sisense ($100M, January)
The January funding round brings the company’s total raised to $274 million since its founding in 2004. Sisense will use the injection to bolster its sales, marketing, and software development teams to increase its market presence and enhance the Sisense Platform. Sisense recently announced new advanced analytic functionalities, representing the first product integration since its acquisition of Periscope Data in May. The integration brings forth Sisense Forecast, Sisense Quest, and three new capabilities for embedded BI.
Outlier ($22.1M, January)
Outlier’s January Series B funding round of $22.1 million brings the company’s total funding earned to $30.5 million since its founding in 2015. The round was led by Emergance, with participation from existing investors. The solution provider has grown more than 400 percent in the last calendar year, in large part due to its burgeoning presence in the augmented analytics marketplace. Outlier will use the funds on strategic hires.
Snowflake ($479M, February)
The funding round was led by new investors Dragoneer Investment Group and Salesforce Ventures, and raises the cloud data platform provider’s valuation to $12.4 billion. The injection and partnership with Salesforce will enable Snowflake to strengthen its market position in the data management space. According to data from Crunchbase, this represents Snowflake’s third funding round since January 2018 when the company secured $263 million. Snowflake followed that up with $450 million in additional funding in October.
Dremio ($70M, March)
The round was led by Insight Partners with participation from existing investors. The Dremio funding will enable the company to continue to invest in expanded product capabilities, as well as scale its go-to-market and engineering operations around the globe. The capital injection comes after a record year for Dremio, as the data lake tools provider grew its revenue more than three-and-a-half times and partnered with many of the world’s Global 2000 companies. Dremio was also recently included among CRN’s 100 Coolest Cloud Companies of 2020, an annual list that honors the premier cloud technology suppliers in key categories.
Pyramid Analytics ($25M, March)
The Pyramid Analytics funding was led by Jerusalem Venture Partners with participation from existing investors. Pyramid will use the capital to enhance its global footprint, expand strategic alliances with partners, and become a major player in analytics and BI. The funding comes after Pyramid unveiled its new Pyramid v2020 platform in September. The update was highlighted by a focus on ease of use, which can be seen via the tool’s simplified user interface. Pyramid v2020 includes more than 150 new enterprise features in total, with the most notable being Analytics for Everyone.
Collibra ($112.5M, April)
The funding comes at a post-money valuation of $2.3 billion and brings Collibra’s total capital raised to more than $335 million over 6 rounds since its founding in 2008. The round was led by existing investors and will enable Collibra to help its 450 customers via a suite of products that assist with data privacy, protection and compliance. The Collibra funding news comes on the heels of the company’s January release of Collibra Lineage, a data lineage tool that enables organizations to understand where data comes from and how it flows and transforms across the enterprise. The launch of Collibra Lineage marked the first formal integration after Collibra acquired SQLdep in July of 2019.
Okera ($15M, April)
Data management and governance platform vendor Okera secured a $15 million-dollar Series B funding round in April. The investment was led by ClearSky Security and brings Okera’s total funding earned to $29.6 million over three rounds since its founding in 2016. The capital will enable Okera to expand investments in engineering, sales, and marketing, as well as continue to help its customers with secure data access for analytics.
GoodData (Undisclosed, May)
GoodData raised an undisclosed funding amount via a strategic partnership with Visa in May. According to GoodData CEO Roman Stanek, the investment will enable The San Francisco-based vendor to increase its focus on self-service data analytics, user interfaces, and data visualizations.
Cinchy ($10M, May)
Data collaboration tools provider Cinchy raised $10 million in Series A funding in May. The funding round was led by Information Venture Partners with participation from several other firms. Cinchy will use the new capital to add features to its data platform, as well as seek out additional security certifications. The vendor will also begin building out its product roadmap in the data fabrics space, with a deeper partner ecosystem on the horizon as well.
Domino Data Lab ($43M, June)
Domino’s June reveal of Domino Model Monitor, update to Domino Data Science, and $43 million-dollar funding round represented a major milestone for the advanced analytics provider. The Series E funding round brings the company’s total raised to $128 million since its founding in 2013. The round was led by Highland Capital Partners with participation from new and existing investors. It’s the second funding round for the data science solution provider in the last 24 months.
Fivetran ($100M, July)
The Series C funding round brings Fivetran’s total funding earned to more than $163 million since its founding in 2012, and includes both new and existing investors. Fivetran will use the capital to hasten adoption in the enterprise and around the globe. The news represents Fivetran’s second funding round in the last calendar year after it secured $44 million in Series B last September. That round was designed to help the Oakland-based vendor advance automated services to more sources and destinations and scale operations. The Series C funding also comes on the heels of the release of Fivetran Transformations with in-Warehouse Data Change and the launch of Powered by Fivetran.
Explorium ($31M, August)
The capital injection, which brings the company’s total raised to more than $50 million since its founding in 2017, included participation from new and existing investors. Explorium will use the funding to continue building out its data discovery-powered data science platform. It’s been a banner year for Explorium after it secured Series A funding last September. The company tripled its customer base and expanded to incorporate data that is relevant to more industries and verticals. Explorium is now partnered with Amazon Web Services, Snowflake, and Nova Consulting as well.
Redis Labs ($100M, August)
Redis has now earned more than $246 million in funding since its founding in 2011, and its newest capital injection gives the San Francisco-based database provider a valuation of $1 billion. Redis will use the funding to continue investing its product and support services, as well as expand go-to-market teams and programs. 2020 has been a whirlwind year for Redis highlighted by its signing of a strategic alliance with Microsoft Azure for making Redis Enterprise the top tier of Azure Cache for Redis. Its Enterprise Cloud service for Google Cloud experienced over 300 percent growth in two quarters as well.
Dataiku ($100M, August)
The round, which brings Dataiku’s total funding earned to more than $246 million since its founding in 2013, saw participation from new and existing investors. Dataiku plans to use the capital injection to expand its platform and offerings to support a more global approach. The news comes on the heels of Dataiku announcing a new partnership with Snowflake in June. The New York-based solution provider touts a growing customer list and currently has more than 450 employees. Dataiku released Dataiku 7 in March, an update which was highlighted by deeper integrations for technical professionals who work on machine learning project development.
data.world ($26M, September)
Led by new and existing investors, the funding brings the company’s total earned to more than $70 million since its founding 2015. The capital injection will enable data.world to hasten development of its data governance capabilities and scale to meet increasing market demand for its data management product. It has been a banner year for the Austin, Texas-based solution provider with continued quarter-over-quarter customer expansion. data.world has also been named to various Gartner data management reports and touts one of the top scores in the researcher’s Peer Insights for metadata management solutions.
Varada ($12M, September)
The funding round included participation from new and existing investors, and brings the company’s total earned to $19.5 million after its $7.5 million-dollar seed round in 2019. The funding comes as Varada prepares to launch its data virtualization platform, a product that will “establish a new standard for accelerating big data workloads” according to the company. Varada enables data architects to hasten and optimize workloads via dynamic analysis and adaptive indexing.