Varada is set to launch its data virtualization platform for accelerating big data workloads while optimizing control over performance and cost.
Israeli big data analysis company Varada announced today that it has closed a $12 million Series A financing round led by MizMaa Ventures with participation by Gefen Capital and previous investors Lightspeed, StageOne Ventures and F2 Venture Capital who invested in the company's $7.5 million seed round in 2019.
The funding comes as Varada prepares to announce the general availability of its data virtualization platform for accelerating big data workloads while optimizing control over performance and cost.
The company was founded in 2017 by CTO David Krakov, VP R&D Roman Vainbrand and chief architect Tal Ben Moshe, all former executives at ExtremIO, the data storage company acquired by Dell EMC for $500 million in 2012. The company has 30 employees - most of them in Israel and three employees in its Silicon Valley offices.
Varada CEO Eran Vanounou said, "Varada is solving the biggest headaches of data infrastructure teams while giving business units the tools to quickly and cost effectively turn their priceless data assets into value for customers. I know this problem firsthand, as I was the CTO of LivePerson before joining Varada. When I met the founding team, I was blown away at their vision for how to solve one of the thorniest problems in big data. The platform we’re building enables revolutionary ease-of-use, fast time-to-market and cost control. This round of Series A funding will accelerate the progress of our solution and allow us to quickly scale our plans to deliver the new standard for data virtualization."
en.globes.co.il - on September 15, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
Varada / Photo: Guy Teicholetz