Norwest Venture Partners, the venture capital firm managing funds for financial services provider Wells Fargo, has taken part in a $30m series C round for US-based big data technology provider Qubole.
Institutional Venture Partners led the round, which also included fellow venture firms CRV and Lightspeed Venture Partners
Qubole’s big data analytics platform, Qubole Data Service, uses auto-scaled big data clusters and integrated toolsets to help data analysts, developers and enterprise users process large volumes of information
The company will invest the series C capital in expanding availability of Qubole Data Service, and to introduce new data engines to the platform. The platform, which runs on Amazon Web Services, Google Cloud Platform and Microsoft Azure, will also be integrated with additional cloud providers.
Ashish Thusoo, co-founder and chief executive of Qubole, said: “This additional investment will enable us to expand our efforts in sales, marketing and product development while continuing to serve our current customers with excellence.
“As the clear leader in the market, Qubole is establishing the standard for how enterprises process big data in the cloud.”
CRV and Lightspeed joined angel investors Venky Harinarayan and Anand Rajaram for a $7m series A round in 2013 before Norwest led Qubole’s $13m series B the following year.