Treeverse Announces $23 Million in Funding to Boost Lifecycle Management of Data Lakes

Treeverse, the creator of lakeFS, the open-source technology that brings streamlined data lifecycle management and version control to data lakes, announced it has raised $23 million in funding to date, further accelerating the development and adoption of the innovative solution.

Dell Technologies Capital, Norwest Venture Partners, and Zeev Ventures led the round.

"We created lakeFS to solve the pain and frustration we knew firsthand as data engineers ourselves," says Treeverse CEO and co-founder Einat Orr. "We're most proud of how lakeFS elegantly solves the file system challenge for data lakes of exponential size and how the growing community around it is involved in finding new ways to leverage lakeFS to improve their data workflows. We plan to use this round of funding to perfect the open-source core capabilities and build a SaaS offering over it that allows fast creation of predefined workflows that are essential for managing an ever-growing amount of data within every enterprise."

Sitting between an organization's data lake and the applications required to run all of an organization's essential processes, the lakeFS technology empowers better visibility and increased efficiency across the organization.

The lakeFS's open-source base encourages data engineers to participate in designing the solution to meet the data needs of their businesses, as well as those of the community of data professionals worldwide.

The lakeFS community includes teams from Slice, SimilarWeb, Karius, and many others, who contribute feedback and ideas that help shape lakeFS to be an even more powerful data lifecycle management tool.

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