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DataTorrent Raises $8 Million in Series A Funding Led by August Capital

Jun 26 2013 12:00AM

Marketwire

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SANTA CLARA, CA -- (Marketwired) -- 06/26/13 -- DataTorrent, developers of the first Hadoop-based real-time Big Data streaming platform, announced today that it has raised $8 million in a Series A round of funding, led by August Capital and closed in May 2013.

Previously, DataTorrent had raised $750,000 in a seed round with participation from Morado Ventures, AME Cloud Ventures and Farzad Nazem that closed in May 2012. David Hornik, a partner with August Capital, will join DataTorrent's board, which consists of Ash Patel of Morado Ventures, and Phu Hoang and Amol Kekre, co-founders of DataTorrent.

Separately, the company today announced the release of Developer and Evaluation versions of the DataTorrent platform at the Hadoop Summit 2013 in San Jose, Calif. DataTorrent is the first Big Data platform built exclusively on Hadoop to power instantaneous data processing, analytics and action.

"DataTorrent is at the forefront of the next wave of solutions that will empower companies to use Big Data in innovative and exciting ways," said David Hornick, a partner with August Capital. "We are investing in DataTorrent as we expect it will open up new and easier possibilities for businesses looking for comprehensive, real-time Big Data solutions."

"We're on the verge of a tectonic shift between just knowing about what's going on and being able to act on it," said Phu Hoang, co-founder and CEO of DataTorrent. "Not only does DataTorrent offer companies working on Big Data a way to know what's happening with their business in real-time, but we enable them to act on it in real-time as well. We are pleased to be leading this shift in the industry."

"I'm excited that DataTorrent's offering is unlike anything else in the Big Data space at the moment," said Jerry Yang, founder of AME Cloud Ventures and co-founder of Yahoo!. "While there are a lot of solutions claiming to conduct 'real-time' analysis and monitoring, DataTorrent is breaking the Big Data barrier by being the first to base a solution on Hadoop. Any enterprise that is serious about experiencing the power of Big Data in real-time should be looking at DataTorrent."

DataTorrent was founded by Phu Hoang, a 12-year Yahoo! veteran and former EVP of Engineering at Yahoo!, and Amol Kekre, who built the Yahoo! quotes streaming service and was a leader in the Hadoop efforts at Yahoo!. The Big Data and streaming DNA of the company is further strengthened since the team is comprised of people who built the Yahoo finance streaming service and key contributors to Hadoop.

About DataTorrent, Inc.
DataTorrent, Inc., headquartered in Santa Clara, Calif., offers enterprise customers the first Big Data platform built exclusively on Hadoop to power instantaneous data processing, analytics and action. To learn more about DataTorrent or download the platform, visit http://www.datatorrent.com. Follow DataTorrent at @datatorrent.



Veronica Skelton
The Concept Agency for DataTorrent
415.342.3435
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Source: Marketwire


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