Cloudera this week announced it has raised $160 million in new funding to fuel its growth in the Apache Hadoop market space and promote other company initiatives. This financing round brings the company's total venture funding raised to $300 million.
T. Rowe Price and three other undisclosed public market investors led the funding round. Other investors included Google Ventures and an affiliate of MSD Capital, L.P., the private investment firm for Michael S. Dell and his family.
The funding will be used to further accelerate the enterprise adoption of Hadoop, an open-source software framework for storage and large-scale processing of data-sets, and promote the enterprise data hub (EDH) market, the company said.
Cloudera recently brought its own EDH solution to market. The product helps manage enterprise data in data centers, the company said.
Additionally, the funding will be used to support geographic expansion into Europe and Asia; expand services and support capabilities; and scale the company's field and engineering organizations.
Cloudera CEO Tom Reilly said in a prepared statement enterprises across all verticals are using Cloudera as a standard for big data.
"The market demand for these technologies is fierce as companies realize the competitive advantage and strategic value of their data," he said. "We are thrilled to have the backing of major institutional and strategic investors in this latest round and are well positioned to drive our vision and company growth at an even faster pace"