- Real-time analytics company Imply announced that it raised $30 million in funding led by Andreessen Horowitz’s Late Stage Venture Fund
Real-time analytics company Imply announced that it has raised $30 million in funding led by Andreessen Horowitz’s Late Stage Venture Fund with participation from Geodesic Capital and Khosla Ventures. Including this round of funding, Imply has raised $45.3 million in funding.
Imply did not necessarily need to raise this round of funding as it only spent less than 10% of its Series A round of funding and the company also grew its Annual Recurring Revenue 8-fold over the last two years preceding the funding. With this round of funding, Imply plans to accelerate product development and the company’s go-to-market expansion.
Imply was originally founded in late 2015 by the original authors of Apache Druid — which is a popular open-source database that delivers sub-second query and high-speed ingest on enormous datasets where instant insight is critical whether it is risk and fraud data, supply chain events, user behavior data, Internet of Things (IoT) device interactions, etc.
Imply delivers a complete solution with Druid as its engine thus adding an intuitive and responsive analytics UI , cloud-native deployment and management, performance monitoring, and enterprise-grade security.
“We are bringing innovative data analytics capabilities to market,” said Fangjin Yang, CEO and co-founder of Imply. “True real-time analytics unlock many use cases that legacy systems such as data warehouses are not designed to support. Imply allows everyone in an organization, no matter their technical skills, to instantly see what is going on in their business, understand why any pattern is occurring with only a few clicks, and make live decisions in the moment. Imply helps startups and enterprises alike to significantly reduce time to insight.”
The use of Imply’s open core engine Druid is growing at a rapid pace. And companies like Netflix, Lyft, Pinterest, and Airbnb all use Druid to power a variety of use cases.
“Imply’s growth has been amazing to witness. The product has been adopted by some of the world’s largest companies for business-critical use cases, and it is undeniably the leader in real-time analytics,” added David George, general partner at Andreessen Horowitz.
Imply is running on public or private clouds as a self-hosted or managed service. And it natively integrates streaming message buses like Apache Kafka and Amazon Kinesis as well as popular file systems like HDFS (Hadoop), Amazon S3, and Google Cloud Storage.