Israeli data integration company Xplenty has announced a $4 million financing round from Bain Capital Ventures, True Ventures and Rembrandt Venture Partners. Bill Lehmann from Bain Capital Ventures has joined the company's board of directors. Existing Xplenty investors Magma Venture Partners and Waarde Capital also participated in the round. The funds will help Xplenty grow globally and develop new platform capabilities.
Xplenty has offices in Tel Aviv and San Francisco.
Xplenty also announced the acquisition of Driven, which develops big data application infrastructure, delivering platforms that help enterprises create, deploy, run and manage data applications at scale. Driven is also the team behind Cascading, a popular technology for data applications - with more than 150,000 user downloads each month. No financial details about the acquisition were disclosed.
Xplenty CEO Yaniv Mor said, "I believe that the need for Cascading will continue to grow in the years ahead and we look forward to being an active part of its success by helping its dedicated community continue to expand and achieve greater results."
He added, "The new funding and the acquisition are setting the stage for our team to continue providing you with a great product, great features and great support, as the leading data integration platform on the cloud."
Published by Globes [online], Israel business news - www.globes-online.com - on December 22, 2016
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