Cisco Investments, the corporate venturing vehicle formed by networking equipment producer Cisco, has invested $5m in data sourcing technology developer Dremio, taking its series B round to $30m.
The cash will be added to the $25m the company raised in a January 2018 first tranche led by Norwest Venture Partners that included fellow venture capital firms Lightspeed Venture Partners and Redpoint Ventures.
Founded in 2015, Dremio has created a scalable software platform capable of connecting analytical processes to any data source without requiring a data warehouse. Data analysts and scientists can use the technology to add new data sources for specific uses or instances.
Tomer Shiran, Dremio’s co-founder and chief executive, said: “Dremio’s product vision and technology continue to be validated by the market and are underscored by our rapid growth and the relationship with Cisco Investments.
“We are proud that Cisco Investments has recognised Dremio’s disruptive technology, and we look forward to working together and bringing Dremio’s unique approach to Cisco’s customers.”
The new capital increased Demio’s total funding to $45m, the company having secured $15m in a 2015 series A round featuring Lightspeed and Redpoint.