Starburst rockets to $1.2B valuation following significant success commercializing open source Presto, a query engine that removes the need to move data in order to analyze it
Starburst, the analytics anywhere company, announced $100 million in Series C funding, bringing the three-year-old company’s total financing to $164 million and valuation to $1.2 billion. The financing round was led by Andreessen Horowitz, with participation from Salesforce Ventures, as well as existing investors Coatue and Index Ventures. Starburst customers include Comcast, FINRA, Condé Nast and Zalando, and its growth continues to be fueled by the fundamental shift in how organizations approach data access and analytics.
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.@Starburstdata announces $100M Series C, led by @a16z with participation from @SalesforceVC and repeat participation from @IndexVentures and Coatue. The three-year-old company is now valued at $1.2B.
“To succeed in today’s digital economy, organizations need to break through the limits previously experienced when accessing their most critical asset – their data,” said David George, General Partner at Andreessen Horowitz. “With its disciplined approach, long-term vision, and workhorse mentality, Starburst is building the technology required to unlock the value of all data. By enabling organizations to access data wherever it resides, Starburst is providing the foundation for the future of the data-driven enterprise.”
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As digital transformation becomes an operational requirement, organizations are relying on data-driven insights to develop a competitive advantage, reduce costs, and more quickly identify new opportunities. Unfortunately, even with millions of dollars invested in expensive data management tools, most organizations are still making decisions that are often too slow or based on incomplete, irrelevant data. This is a result of a data management paradigm known as the “Single source of truth” made famous by data warehouses decades ago. In order to achieve this vision, data teams have to move and centralize their data prior to analyzing it. The problem is it’s unachievable – there’s too much data. And there are too many data consumers who need fast access to more data today. Businesses can’t afford to wait for data movement and copies, and Starburst is ushering in the modern analytics paradigm: A single point of access.
