Big data solution provider MapR Technologies has announced that it has completed a $110 million financing, of which Google Capital led $80 million.
Qualcomm Ventures, the venture investment group of Qualcomm Incorporated, and other existing investors including Lightspeed Venture Partners, Mayfield Fund, NEA and Redpoint ventures have participated in the drive. In addition to the equity financing, MapR completed a debt facility of $30 million led by Silicon Valley Bank.
The financing will be used by MapR to continue its growth in the big data and analytics segment. MapR tripled bookings in the first quarter of 2014 over 2013. The new funding will increase worldwide go-to-market programs to accelerate the deployment of MapR in mission-critical, real-time, and operational use cases.
“Google has a long-standing commitment to Hadoop, making Google Capital an ideal investor for MapR. This investment round recognizes our customers’ rapid adoption, their tremendous results and ROI, and also the capital efficiency of our business model,” said John Schroeder, CEO, MapR Technologies.
MapR has made significant enhancements for Hadoop environments in financial services, healthcare, media, retail, telecommunications, and Web 2.0 companies. The investment will also fund additional engineering resources to further its technology advantage and support open source projects, such as Apache Drill, Hadoop 2.2 with YARN, and Apache Spark.