US-based big data analytics and visualisation provider Datameer raised $40m today in a series E round that included Citi Ventures, the venture capital arm of financial services firm Citi, and enterprise software producer Software AG.
The round was led by investment firm ST Telemedia and also featured Top Tier Capital Partners, Redpoint Ventures, Kleiner Perkins Caufield & Byers (KPCB) and Next World Capital.
Founded in 2009, Datameer has built an end-to-end big data analytics application that can handle large volumes of data for businesses utilising Apache Hadoop big data software. Its product uses a spreadsheet interface and does not require programming expertise.
Datameer intends to spend the cash on growing its team across all its business units and expanding internationally, using Singapore-based STT’s partners and expertise to help it expand in the Asia Pacific region.
Nikhil Eapen, STT’s chief strategy and investment officer, said: “Data is a strategic asset and big data is increasingly a cornerstone of enterprise strategy.
“Datameer has enabled some of the world’s leading enterprises to translate raw data into critical insight seamlessly and within the fastest time possible. We see tremendous strategic and complementary fit in our partnership.”
The round increased Datameer’s overall funding to approximately $77m, and follows a $19m series D round in 2013 led by Next World Capital and backed by Citi Ventures, Software AG and financial management software firm Workday, as well as earlier investors KPCB and Redpoint.