- Analytics anywhere company Starburst announced recently that it has raised $100 million in Series C funding. These are the details.
Analytics anywhere company Starburst announced recently that it has raised $100 million in Series C funding. This round of funding brings the total funding to $164 million and the valuation to $1.2 billion. This round of funding was led by Andreessen Horowitz with participation from Salesforce Ventures as well as existing investors Coatue and Index Ventures.
As digital transformation is becoming an operational requirement, organizations are relying on data-driven insights to develop a competitive advantage, reduce costs, and more quickly identify new opportunities. Unfortunately — even with millions of dollars invested in expensive data management tools — most organizations are still making decisions that are often too slow or based on incomplete, irrelevant data. This is a result of a paradigm known as the “Single source of truth” — made famous by data warehouses decades ago. And in order to achieve this vision, data teams have to move and centralize their data prior to analyzing it. The problem is unachievable as there is too much data.
And there are too many data consumers who need fast access to more data today. Businesses cannot afford to wait for data movement and copies. Starburst is driving the modern analytics paradigm: A single point of access.
Presto is the engine behind Starburst’s technology and the company employs all four creators of the open source project. Originally built at Facebook in 2012, Presto makes it possible to quickly analyze data anywhere. Last month, PrestoSQL was rebranded as Trino.
Salesforce Ventures’ participation in the round was driven by Salesforce.com’s ownership of Tableau. And Starburst allows Tableau (a Salesforce company) users to quickly analyze and visualize data across multiple data sources without ever needing to leave the Tableau user interface.
KEY QUOTES:
“To succeed in today’s digital economy, organizations need to break through the limits previously experienced when accessing their most critical asset – their data. With its disciplined approach, long-term vision, and workhorse mentality, Starburst is building the technology required to unlock the value of all data. By enabling organizations to access data wherever it resides, Starburst is providing the foundation for the future of the data-driven enterprise.”
— David George, General Partner at Andreessen Horowitz
“Today, the only constant is change, and organizations need to make faster and better decisions in order to adapt. Starburst is changing the game by allowing you to query the data wherever it lives. We provide high-performance data warehousing analytics across data you never had access to before.”
— Justin Borgman, CEO and co-founder of Starburst
“Empowering people with timely, trustworthy information that can be easily analyzed has never been more important as organizations look to adapt and evolve with a culture rooted in data. Backed by an incredible team and vision, Starburst has set itself apart with best-in-class solutions that will help even more people unlock the power of data. We’re excited to partner closely with Starburst and look forward to watching their continued success unfold.”
— Francois Ajenstat, Chief Product Officer at Tableau
