About a-team Marketing Services
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Cloudera Raises $65 million For Enterprise Expansion

Subscribe to our newsletter

Hadoop platform distributor Cloudera has raised $65 million in additional funding to support global expansion, product development and enterprise adoption of its platform.  The funding round was led by early backer Accel Partners, with support from existing investors Greylock Partners, Ignition Partners, In-Q-Tel and Meritech Capital Partners.  This new funding brings to $140 million the amount raised by the Palo Alto-based company, and values it at $700 million, according to press reports.

Founded in 2009 by executives from Google, Yahoo, Facebook and Oracle, Cloudera’s focus is the adoption of the open source Hadoop framework by enterprise customers.  As part of this endeavour, it has added functionality to the Hadoop platform to make it more scalable and secure, has added real-time features such as Impala, and sells management software that’s a requirement for use in enterprise enviroments of any significant size.

As a private company, Cloudera does not disclose revenues, but asserts that over the past 12 months it has doubled sales, customers, employees and data under management.  Its financial markets customers include JP Morgan Chase and Morgan Stanley.

Cloudera says it will use the new funds for product development and sales expansion, including the opening of a European headquarters in the U.K., in the first quarter of 2013.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to move to a modern, component based trading architecture using a Buy AND Build approach

To remain competitive in today’s electronic markets, firms need trading architectures that support rapid innovation, effortless integration of new capabilities, and the agility to respond to shifting market demands. This is prompting technology leaders to move beyond the traditional “Buy vs. Build” debate, a false dichotomy that oversimplifies the choice between generic, off-the-shelf platforms and...

BLOG

MEMX Launches MX2 as Options Expansion Gathers Pace

MEMX Group has launched MX2 Options, its second US listed-options exchange, adding a customer-priority, pro-rata market model as the exchange operator continues to broaden its footprint in options and build towards its planned combination with BOX. MX2 began trading on 14 September, processing more than 1,500 contracts across an initial 10 symbols on its first...

EVENT

RegTech Summit New York

Now in its 10th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Corporate Actions USA 2010

The US corporate actions market has long been characterised as paper-based and manually intensive, but it seems that much progress is being made of late to tackle the lack of automation due to the introduction of four little letters: XBRL. According to a survey by the American Institute of Certified Public Accountants (AICPA) and standards...