In the past few months, Hadoop vendors Hortonworks and Cloudera have seen big funding rounds, with many commentators suggesting that MapR was falling behind. Today, however, it was announced that MapR has raised $110 million in combined equity and debt financing. The majority of the funding — $80 million – was in equity and was led by Google Capital with support from Qualcomm Ventures. Existing investors Lightspeed Venture Partners, Redpoint Ventures, NEA, and Mayfield Fund also participated in the funding round. The remaining $30 million was in the form of debt, which was led by Silicon Valley Bank.
John Schroeder, CEO and co-founder of MapR, said in a statement:
“Google has a long-standing commitment to Hadoop, making Google Capital an ideal investor for MapR. This investment round recognises our customers’ rapid adoption, their tremendous results and ROI, and also the capital efficiency of our business model.”
“It’s extremely gratifying to bring these high-calibre strategic investors on board, including Qualcomm who is the leader in the mobile ecosystem and also at the forefront of the Internet of Things, to help us accelerate growth and position the company for global leadership. Our installed base of more than 500 paying licensees provides a strong foundation and we are excited to move forward with the tremendous resources from our new and current financial investors.”
As Re/Code poignantly note, the investment in MapR marks the third nine-figured funding deal for a Hadoop company this year, bringing the total invested in the space to over $1.1 billion.
The recent investment in MapR brings the total amount raised to $139 million in equity capital since the company was founded in 2009. Just like its competitors, Hortonworks and Cloudera, the company’s CEO said it is preparing for an IPO, which could be seen as early as the second half of next year.
Read more here.
(image credit: Google Capital)