Big data management company Infoworks has announced raising $5 million in its Series A round of funding by Nexus Venture Partners and with participation from Knoll Ventures and others. The company, founded in 2014 has also expanded its management team bringing in expert and experienced people in analytics and enterprise software management.
With an expanded team and fresh round of funding, the company is looking forward to enter the next stage of growth. In a separate announcement, it also launched a complete solution for data warehouse augmentation, which is built on the company’s dynamic data warehousing (DDW) platform working on Hadoop. As the amount of data to be handled is increasing day by day, traditional data warehouses have become too expensive and inefficient to handle such growth. Hadoop, a free, Java-based programming framework that supports the processing of large data sets in a distributed computing environment is being used these days as a data repository that extends and augments traditional data warehouses.
However there are certain challenges in using Hadoop in supporting an enterprise requirements. Infoworks has developed the first Dynamic Data Warehousing (DDW) platform on Hadoop to tackle these issues and provide a complete solution for data warehouse augmentation. In the words of its CEO and co-founder, Amar Arsikere,
Just as Google crawls the web and organizes information for search, the Infoworks DDW platform automatically crawls enterprise databases, ingests the data into Hadoop, and organizes it into high performance data warehouses and other data models that support all enterprise use cases, including cubes.
Infoworks has been testing its platform with customers over the last one year and has met with enthusiastic response due to its innovative approach to data management. “The strong positive response of large enterprises to the technology developed by Infoworks was impressive – amongst the strongest I have seen in over twenty years of working with technology startups, and a clear indication of the market need,” stated Buno Pati, Chairman and co-founder of Infoworks. A similar viewpoint was echoed by Naren Gupta, Managing Partner of Nexus Venture Partners who said, “Infoworks addresses a pressing industry need for building data warehouses and data models for rapidly changing big data. We were very impressed with the company’s vision, and are excited to be part of the team.”
The expanded management team at Infoworks now has Ramesh Menon as the head of product management, and Jitender Nankani as head of customer success. Ramesh led product management at YarcData , which resulted in the world’s largest shared-memory analytics appliance and previously directed market strategy for Informatica’s Master Data Management business unit. Jitender was most recently a principal at Saama and has delivered numerous big data solutions for Fortune 500 companies.“Ramesh comes with a deep understanding of the big data and analytics market. He was instrumental in shaping product strategy and growing sizable businesses at YarcData and Informatica. I am thrilled to have him on board and looking forward to working with him to build a great product and a great company” stated Amar.