Treasure Data Raises $15M in Funding for Pre-built Cloud-based Big Data Service
Treasure Data has raised $15 million in new funding for its pre-built cloud service for collection, storage and analysis of big data sources. The Mountain View, California-based company has raised a total of $23 million in financing to date.
The company considers its cloud service to be an alternative to Hadoop platforms or services. Treasure Data’s solution was designed to collect, store and analyze sources of big data, including mobile, Internet of Things (IOT), logs and events.
Scale Venture Partners led the Series B funding round. All current board members or their respective funds also participated in the financing round — in addition to AME Cloud Ventures, a venture fund led by Yahoo founder Jerry Yang. The company received $5.3 million in a Series A financing round in July 2013.
Treasure Data plans to leverage the additional funds for increased investments in sales, marketing and product development — in order to accomodate its expanding needs.
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“We have experienced rapid growth since we launched the Treasure Data Service in 2012, demonstrating a strong fit for the market due to our unique cloud technology and subscription service model,” said Hannah Smalltree vice president of marketing at Treasure Data.
Smalltree said that these additional funds will be also be “used primarily for personnel investments, which support both direct and channel sales programs.”
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