Google Capital and Qualcomm Ventures reinvested in data platform provider MapR, bringing its overall equity funding to $194m as it prepares for an initial public offering.
US-based converged data software provider MapR Technologies raised $50m in funding yesterday from investors including internet technology group Alphabet and mobile chip producer Qualcomm.
Future Fund led the round, which also featured Lightspeed Venture Partners, Mayfield Fund, New Enterprise Associates (NEA) and Redpoint Ventures. The corporates invested through respective subsidiaries Google Capital and Qualcomm Ventures.
MapR is the creator of a platform that offers real-time data analytics and data processing across cloud and on-premises systems. It claims to have increased bookings by more than 100% year on year up to the end of June 2016.
John Schroeder, founder and chief executive of MapR Technologies, said: “Our ongoing momentum is fueled by a world-class team that is driving innovation and growth across every facet of our organisation.
“This new funding strengthens our balance sheet as we look ahead to an initial public offering.”
MapR has now raised $194m in equity since it was founded in 2009, including $80m in a July 2014 round led by Google Capital that included Qualcomm Ventures, Lightspeed, Mayfield, NEA and Redpoint Ventures.
The 2014 round, which was closed alongside a $30m debt facility from Silicon Valley Bank, reportedly valued MapR at more than $1bn.
Matt Mills, MapR’s president, said yesterday: “Demand for the MapR Converged Data Platform continues to grow as it enables customers to lower IT costs by unifying data into a single platform and simultaneously drive innovative applications to generate new revenue streams.
“MapR addresses the transition of on premise to cloud computing by unifying all data within a single converged data architecture.”
