Alpine Data Closes $16M B Round from Sierra Ventures
SAN FRANCISCO, CA, – Nov 22, 2013 – Alpine Data Labs, the leader in Advanced Analytics Software for Big Data and Hadoop, announced today that it has closed a $16 million Series B round of funding from Sierra Ventures, Mission Ventures, UMC Capital UMC -1.24% (twse:2303) and Robert Bosch Venture Capital GmbH (RBVC).
“Our investment approach is predicated on finding companies that are innovating around game changing technologies that impact global businesses,” said Frank Lee, a vice president at UMC Capital. “Predictive Analytics is the single most important area of investment that can truly impact an enterprise’s business performance regardless of industry, size or where in the world they do business.”
Big Market, Fast Player The Advanced Analytics market for Hadoop and Big Data is experiencing a tipping point. According to a recent IDC research report, the industry is expected to grow at 54.9% through 2017. The industry is changing under the feet of established players and is opening an opportunity for companies like Alpine Data Labs to disrupt market forces.
“Our advantage is quite simple,” says Joe Otto, the company’s CEO. “We are built for the new world of data, a world that’s more fluid and agile, and where every data analyst can participate in Data Science. Our solution takes advantage of the storage and compute power of distributed systems like Hadoop or databases like Greenplum — and it does so without putting a burden on IT departments, developers or data scientists. With our software, customers are up and running in hours and their analytical teams can run complex algorithms on top of large data systems without having to move data around, or code their way through MapReduce or Pig.”
Mainstream Adoption Alpine’s technology is being implemented by global industry leaders like A.T Kearney, Havas Media, Sony, Nike and Barclays.
Some were so captivated by the Alpine’s depth and approach that they asked to participate in this round: “Our introduction to Alpine came about as we were surveying the market for a solution for our own use,” said Luis Llovera, Managing Director at Robert Bosch LLC. “We immediately saw the advantage of Alpine’s approach to data science versus traditional methodologies. The Alpine architecture allows a company such as ours to gain more meaningful insights from our data and get to more powerful business impact.”
Alpine Data Labs’ explosive growth is a testament to its unique technology approach and the potential for the rest of the market. The company recently released the latest version of its software at the O’Reilly Strata Conference and received rave reviews. Alpine was recently recognized in the Analyst One “Top Technologies” list and VentureWire’s FastTech “50 Most Innovative Technology Startups.”
“The market is prime for our technology and approach,” explains Otto, “Companies of all sizes have made a bet on Hadoop and it’s now time for them to leverage that data into the ‘killer app’ of big data: Analytics!”
When asked what he will do with his new investment beyond product development, marketing and customer support, Joe simply responds: “Change the World of Big Data of course. Stay tuned for more.”