We are very happy to announce that today we closed a $12 million Series A round of funding. The round is led by MizMaa Ventures, an early-stage venture capital ﬁrm investing in Israeli technology startups, with participation by Gefen Capital. The round also included participation from existing investors Lightspeed, StageOne Ventures and F2 Venture Capital who contributed in early 2019 to a $7.5 million seed round.
The funding comes as Varada prepares to announce the general availability of its data virtualization platform, which will establish a new standard for accelerating big data workloads while optimizing control over performance and cost.
“In a world where every organization wants to be data-driven and data sources are growing exponentially in both volume and complexity, Data Virtualization and Data Lake technologies will be at the core strategy of any organization over the next 5 to 10 years,” said Aaron Applbaum, partner at MizMaa. “Varada disrupts this space with its unique and innovative indexing-based technology.”
“We have been working with the team for a couple of years and strongly believe that Varada brings a fresh approach to solving big data challenges,” added David Gussarsky, partner at Lightspeed. “Varada’s patented technology allows it to leap-frog the current state of the market, overcoming data control issues and offering far more sophisticated capabilities for prioritizing workloads to balance performance and cost.”
Tal Slobodkin, managing partner at StageOne Ventures observed that “Varada truly democratizes access to data and empowers data teams with deep visibility and seamless optimization to deliver the most effective data plan for any business requirement. Varada is making great strides, and we’re excited to participate again in this round.”
“Following the dev-ops revolution, data-ops is now at the center of attention of data executives” explains Jonathan Saacks, managing partner at F2. “Varada’s zero data-ops approach offers data teams the ability to support any big data use case with very fast time-to-market while keeping tight control”
To read the full announcement, click here.