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Google leads $80m financing for Hadoop-based IT provider

30 Jun 2014

modern-laptop-computer-isolated-1432157-mGoogle Capital has led an $80m financing round to bring MapR Technologies’ total raised to $110m.

Qualcomm Ventures, Lightspeed Venture Partners and Redpoint Ventures also participated in the equity financing round, while Silicon Valley Bank helped MapR secure a loan of $30m.

MapR is a Hadoop-based technology platform which delivers a framework for storage and large-scale data processingfor financial services, healthcare, media, retail and telecommunications.

Google Capital has a long-standing commitment to Hadoop, having previously invested in data management business Cloudera.

General partner Gene Frantz will join MapR on the board of directors as part of the deal.

He said, “MapR helps companies around the world deploy Hadoop rapidly and reliably, generating significant business results.

“We led this round of funding because we believe MapR has a great solution for enterprise customers, and they’ve built a strong and growing business.”

MapR tripled bookings in the first quarter of 2014 compared to 2013 with around 500 licensees on its books. It said the new funding will go towards increasing worldwide go-to-market programs to speed up the deployment of its service in real-time, and operational use cases.

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