Israeli big data analytics co Upsolver raises $25m

Omer Rafael  / Photo: Tomer Poltin

The company has developed a no-code data lake engineering platform for agile cloud analytics.

Israeli big data analytics company Upsolver today announced the completion of a $25 million Series B financing round led by Scale Venture Partners, with the participation of existing investors JVP, Vertex Ventures US, and Wing Venture Capital. As part of the investment Scale partner Ariel Tseitlin has joined Upsolver’s board of directors.

The company also announced its free Upsolver Community Edition, an integral part of the Upsolver no-code data lake engineering platform for agile cloud analytics, which delivers on its vision for universal access to cloud data.

The new funding follows Upsolver’s $13 million Series A financing round in June 2020 and a tripling of the company’s revenue in 2020, including the addition of customers such as Cox Automotive, Wix, and AppsFlyer. Upsolver will use the financing for new hires, expanding marketing, and driving technical innovation.

With offices in Israel, California and New York, the company was founded in 2014 by CEO Ori Rafael and CTO Yoni Iny, both graduates of the IDF's 8200 intelligence unit.

Rafael said, "We wanted to store data affordably in the cloud without analytics vendor lock-in. Unfortunately, what used to take three hours using SQL turned into a month or more of hand-coding and hundreds of configurations in Spark. We created Upsolver to transform cloud analytics into an agile process."

Upsolver addresses the complex challenge of transforming raw, big data into structured tables with a visual SQL IDE that any data practitioner can use, combined with an execution engine that automates data lake engineering to ensure high-performance. Since Upsolver is based on open source file formats like Apache Parquet, companies avoid vendor lock-in and can take advantage of a multitude of query engines such as PrestoDB, Trino, and Athena, or data systems like Snowflake, AWS Redshift, Azure Synapse Analytics, Splunk, and Elasticsearch.

Published by Globes, Israel business news - en.globes.co.il - on April 6, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Omer Rafael  / Photo: Tomer Poltin
Omer Rafael / Photo: Tomer Poltin
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