Dremio Adds $25 Million in Series B Financing

Dremio has closed $25 million in a Series B funding round led by new investor Norwest Venture Partners with participation from existing investors Lightspeed Venture Partners and Redpoint Ventures.

With this investment, Dremio will expand its engineering and sales teams and increase its international reach.

Founded in 2015, Dremio has raised a total of $40 million, and its customers include organizations in the US, Europe, Asia and Australia, such as Daimler, OVH, Quantium and TransUnion.

Dremio was built to improve the dynamic between the data consumers and IT, simplifying and governing the process of achieving interactive speed on data from any source, at any scale, at any time, through a self-service model delivered on an open source platform. Its goal is to enable data consumers to discover, curate, accelerate and share data for their specific needs, without burdening IT.

Dremio provides a future-proof strategy for data, allowing companies to choose the best tools for analysts, and the right database technologies for applications, without compromising on the ability to leverage data to power the business. Designed for modern on-premises and cloud infrastructure, Dremio takes advantage of elastic compute resources as well as object storage such as Amazon S3 for its Data Reflection Store.

“Business analysts and data scientists are entirely dependent on IT to get interactive access to the data they need and they are underutilized as a result, representing hundreds of billions of dollars of unrealized value every year,” said Tomer Shiran, co-founder and CEO, Dremio. “Dremio makes data self-service for data consumers in the same way that AWS makes infrastructure self-service for developers, but it benefits more than 10 times as many individuals."

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