To read the full article by George Leopold in Datanami, click here.
Varada is targeting big data query acceleration, announced a $12 million funding round this week as it ramps up its “zero data-ops” platform, designed to prioritize analytics workloads via proprietary indexing technology.
The Series A round was led by MizMaa Ventures, and early stage investors in Israeli technology startups. Gefen Capital joined seed investors F2 Venture Capital, Lightspeed and StageOne Ventures.
Varada is developing a data virtualization platform for accelerating big data workloads via its patented big data indexing technology. The platform is intended to help prioritized workloads to “balance performance and cost.” Varada’s value proposition aims to leverage data virtualization as a way to query data from disparate sources from a “single endpoint,” eliminating IT operations such as configuration and modeling. This data virtualization scheme seeks to reduce data movement and reduce latency.
As explained by Leopold, Varada “is also targeting market leader Snowflake, which recently introduced a data cloud intended as a portal where organizations can execute data-oriented tasks beyond data warehousing and SQL analytics, including machine learning, data engineering and monetizing third-party data… unlike Snowflake’s, does not require users to configure their data into a proprietary format.”
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