Upsolver Nabs $25M Funding, Launches Free Edition of Data Lake Tool
Data lake engineering platform provider Upsolver recently announced that it raised $25 million in Series B funding, according to a press release. The capital injection was led by Scale Venture Partners with participation from existing investors. The Series B round comes on the heels of the company’s Series A round from 2020 which saw Upsolver raise more than $13 million. Upsolver has now raised $42 million since its founding in 2014.
Upsolver offers a no-code data lake engineering platform designed for agile cloud analytics. The product features a self-service compute layer between data lakes and analytics tools to automate menial data pipeline work. Upsolver touts capabilities for running data ingestion, performance optimization, real-time processing, and upserts into cloud storage. Built-in connectors enable ingestion from message brokers, object storage, or databases. Key features include a visual SQL IDE, scheme on read detection, and fully-managed processing jobs execution.
In addition to the funding, Upsolver released a new free forever Community Edition of its data lake engineering platform. The Community Edition is a fully functional version of Upsolver and can be run on AWS or Azure. The free Community Edition can be used in two ways, including in Upsolver’s sandbox environment or integrated within your AWS or Azure accounts for small workloads. Additional features include connectors for ingestion and output to common data stores, a visual SQL IDE for building, automated schema-on-read discovery, and more.
Upsolver CEO Ori Rafael said about the funding news “First, we announced that we have raised $25M in a Series B funding round, which is a reward for our growth to date — we tripled revenue last year — and gives us the opportunity to accelerate development of our platform and get the word out to those who have yet to hear about Upsolver. The top-tier venture investors from our Series A all participated, plus the round was led by a new investor, Scale Venture Partners. Scale is known for having made early investments in well-known SaaS success stories such as Box, DocuSign and RIngCentral.”
Read Our Series B funding, new Board member, and new Upsolver Community Edition in the company’s blog to learn more.