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.