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Accel Partners leads $65m Cloudera financing from $100m Big Data Fund

7 Dec 2012

Accel Partners has led a $65m financing round for data management software company Cloudera through its $100m Big Data Fund.

Greylock Partners, Ignition Partners, Meritech Partners and In-Q-Tel also took part in the financing round, which Cloudera said would be used to fund global sales growth and develop its big data platform.

The company said it plans to expand its international presence by opening a European headquarters in the UK in the first quarter of 2013.

Ping Li, partner at Accel Partners and head of its Big Data Fund, said, “As global business data growth reaches near exponential rates, enterprise organizations are grappling with the reality that they need a way to manage and make use of it.

“Four years ago, Cloudera set out to pioneer the business case for (software framework) Apache Hadoop in the enterprise.

“The team succeeded in developing the market’s leading platform for Big Data and has become the go-to technology for enterprise Hadoop Infrastructure, supported by its rich and diverse partner ecosystem.

“The company is accelerating on its position as the standard for Hadoop in the enterprise and is well positioned to expand its revenue and global customer footprint.”

Accel launched its $100m Big Data Fund 12 months ago to focus on investing in early stage and growth companies in the space.

The fund aims to back transformative businesses throughout the big data ecosystem, from next generation storage and data management platforms to a wide range of revolutionary software applications and services, such as data analytics, business intelligence, collaboration, mobile and vertical applications.

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