Enterprise data application company Concurrent has raised $10 million in Series B funding from new investor Bain Capital Ventures. Existing investors Rembrandt Ventures and True Ventures also participated in this round. Concurrent will be using the funding for research and development related to its products called Driven and Cascading. Bain Capital Ventures managing director Salil Deshpande is joining the board of directors at Concurrent.
Driven is an application management product for data-centric applications and Cascading is an application development framework for building data-driven applications. Cascading sees over 150,000 user downloads per month.
Concurrent makes it possible for organizations to quickly build and deploy applications to meet the demands of its business. Concurrent has news and expanded strategic partnerships with Hortonworks, Rackspace, EPAM and Databricks.
?Our investors? confidence in Concurrent and this latest round of funding supports our strategy and proven leadership in providing Big Data application infrastructure to enterprises. Recognizing the maturing needs of the enterprise and emergence of new technologies, we are giving organizations the application development tools and management products they need to deliver today and in the future. This funding will not only enable us to drive our R&D execution, but will also allow us to expand operational capabilities to support our rapidly expanding user and customer base,? stated Gary Nakamura, CEO of Concurrent.