Google Capital, others invest $110 million in MapR Technologies
MapR Technologies plans to use funds to expand its big data and analytics business
New Delhi: MapR Technologies, Inc, a technology company and distributor of Apache Hadoop, a big data analytics open source platform, said on Tuesday it has raised $110 million in equity and debt financing.
Goople Capital, which invests in technology companies and is backed by Google Inc., led the $80 million equity financing. Other participants included Qualcomm Ventures and existing investors Lightspeed Venture Partners, Mayfield Fund, Redpoint Ventures and New Enterprise Associates (NEA).
In addition, MapR has completed a debt facility of $30 million led by Silicon Valley Bank, the company said in a statement.
The company, which said it has tripled its bookings in the first quarter of 2014 over the year-ago period, plans to use the funds to expand its big data and analytics business. The investment will also fund additional engineering resources to further its technology advantage and support open source projects such as Apache Drill, Hadoop 2.2 with YARN and Apache Spark.
According to John Schroeder, chief executive officer and co-founder of MapR, the company has an installed base of more than 500 paying licensees.
“MapR helps companies around the world deploy Hadoop rapidly and reliably, generating significant business results," said Gene Frantz, general partner at Google Capital, explaining why he invested in MapR. Frantz will be joining MapR’s board of directors.
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