US-based Hadoop software developer Cloudera has closed its series F round at a massive $900m, after revealing that computing company Intel recently invested $740m for an 18% stake.
Cloudera revealed earlier this month that it had secured $160m from backers including Google’s corporate venturing subsidiary Google Ventures, along with investment firm T. Rowe Price and an affiliate of MSD Capital. External reports at the time suggested that Intel was set to make a far smaller investment that would lift the round to $200m.
Cloudera has created a big data management platform for businesses using open source Apache Hadoop software that enables users to store, process and analyse data in a single place, enabling them to better study how to increase value from their investments.
The company plans to leverage the funding to support a previously-announced partnership agreement with Intel, to further the adoption of Hadoop by businesses while promoting the enterprise data hub market, and to use Intel’s worldwide presence to expand into Europe, China and the rest of Asia. Cloudera has now raised approximately $1.04bn since it was founded in 2008.
“The market opportunity for companies to gain insight and build transformative applications based on Hadoop is tremendous,” explained Cloudera chief executive Tom Reilly. “Clearly, demand is accelerating and the market is poised for growth – for all of the players in this space, and we believe Cloudera will be the company to lead this global shift in extracting value from data.
“This position of strength and leadership is evidenced by the strong support of public market investors, large institutional investors and now key strategic investors including Intel, who’ve made sizeable and significant contributions to cement our platform offering.”