Israeli cloud data warehouse company Firebolt today announced the closing of a $37 million financing round with participation from Zeev Ventures, TLV Partners, Bessemer Venture Partners and Angular Ventures.
Firebolt claims it delivers the fastest analytics performance - up to 182 times faster than other data warehouses - for the most challenging data requirements at the multi-terabyte and petabyte scale, enabling higher performance with fewer cloud resources. Firebolt's technology enables companies to analyze much larger volumes of data than previously possible. This dramatically improves the ROI of collecting data, says Firebolt, and enables a myriad of new data-driven use cases with real business impact.
Firebolt was founded by CEO Eldad Farkash and COO Saar Bitner. Farkash was formerly a founder and CTO at Sisense and Bitner was Sisense general manager.
Farkash said, "While companies can store massive amounts of data, most organizations are only able to analyze a fraction of that big data, and often find themselves looking at stale data that does not reflect the current state of their business. For companies to flourish today, they need to move fast, and they should not be forced to make data compromises to achieve only a small part of the business value that their data holds. With Firebolt, organizations can finally gain the insights they need without breaking the bank."
Oren Zeev of Zeev Ventures said, "Firebolt created a SaaS product that changes the analytics experience over big data sets. The pace of innovation in the big data space has lagged the explosion in data growth, rendering most data warehousing solutions too slow, too expensive, or too complex to scale. Firebolt takes cloud data warehousing to the next level by offering the world's most powerful analytical engine. This means companies can now analyze multi-terabyte/petabyte data sets easily at significantly lower costs and provide a truly interactive user experience to their employees, customers or anyone who needs to access the data."
Published by Globes, Israel business news - en.globes.co.il - on December 9, 2020
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