Siemens and Alphabet both backed the data warehousing platform developer in a series C1 round that hiked its overall funding to nearly $250m.
US-based data warehousing software provider Yellowbrick Data has completed a $75m series C1 round featuring subsidiaries of industrial equipment and appliance manufacturer Siemens and internet and technology group Alphabet.
Hedge fund Citadel and Third Point Ventures, the venture capital arm of investment manager Third Point, also took part in the round, as did Menlo Ventures, DFJ Growth, Threshold Ventures and IVP, while Siemens and Alphabet invested through Next47 and GV respectively.
Yellowbrick has created a cloud-based data warehousing platform which allows users to get insights on their business in real time to locate data and inform decision making.
The company has now received $248m since it was founded in 2014, including $44m in a 2018 series A round that included GV, DFJ, Menlo Ventures, Third Point Ventures and Samsung Ventures, a corporate venturing subsidiary of electronics producer Samsung.
Next47 led a $48m series B round for Yellowbrick in 2018 that was also backed by DFJ Growth, the investor that led its $81m series C round in mid-2019
GV, Next47, Menlo Ventures and Third Point Ventures all contributed to the 2019 round, along with automotive manufacturer BMW’s investment arm, BMW i Ventures, and DFJ successor Threshold Ventures.
Neil Carson, chief executive of Yellowbrick, said: “Time and time again, customers are telling us that they can no longer tolerate the unbounded expense of consumption-based billing, especially vendors that force advanced purchase of ‘credits’ like Snowflake.
“Customers much prefer our modern Kubernetes-based, truly cloud-native architecture which allows a choice of pricing models.”
