Xplenty Launches in the U.S., Raises $3 Million in Series A Funding
Investment will be used to expand existing product capabilities and for continued global growth
NEW YORK, NY (October 22, 2014) – Xplenty, the big data processing platform powered by Hadoop, today announced it has raised $3 million in Series A funding from Waarde Capital and existing seed investor Magma Venture Partners of Israel. The investment will allow Xplenty to expand its platform’s features and continue to grow globally. Based in Tel Aviv, Xplenty also announced that it will now offer its innovative, easy-to-use, big data processing technology directly to customers in the United States.
Powered by Hadoop, Xplenty enables organizations to integrate, process, and prepare data for analytics both on the cloud and on-premise, without any Hadoop expertise or background writing code. Hadoop is an open-source software project that facilitates the processing of large data sets in a distributed computing environment. It is designed to scale up from a single server to thousands of machines and can handle all types of information from disparate systems, including both structured and unstructured data.
The need to take the complexity out of Hadoop, allowing businesses to implement it easily, has grown increasingly important. The global Hadoop market is expected to grow at a rate of 58 percent over the next six years, with companies poised to invest more than $50 billion in Hadoop during that time.* However, in conjunction with Hadoop adoption, the U.S. will face a peak shortage of data scientists by 2018, making it especially challenging to build expert data teams to manage Hadoop initiatives in-house.**
Xplenty provides Hadoop processing in a coding-free environment, ensuring businesses can quickly and easily benefit from the opportunities offered by big data without having to invest in hardware, software or related personnel. Xplenty can run on top of Amazon's cloud environment (AWS), as well as other cloud environments – such as Rackspace and Softlayer IBM – or can connect to on-premise infrastructure. With Xplenty, businesses can drive customer insight and operational efficiency to power real revenue opportunities.
“The key benefit of the Xplenty platform is the ability to run data processing on top of Hadoop in a short time, and without the need of in-house Hadoop expertise,” said Sasha Babitsky, the Head of Waarde Capital’s Israeli Office. “It is an impressive solution that corresponds directly to a clear and growing organizational need. We are excited to support Xplenty and fuel the next stage of their growth.”
“While some write ‘big data’ off as a buzzword, the need for systems to handle increasingly larger amounts of data in a variety of formats is undisputed,” said Yaniv Mor, CEO and co-founder of Xplenty. “Xplenty provides a focused, easy-to-use solution, solving the problem of data integration, processing, and preparation for analysis on Hadoop. We are making the ability to enable this increasingly popular technology accessible for everyone in an organization. It has proven a winning combination that we are eager to offer in the U.S.”
For more information about Xplenty, please visit: www.xplenty.com.
Enabling organizations to integrate, process, and prepare data for analytics, Xplenty is a data integration platform powered by Hadoop. Without writing code, Hadoop non-experts can have immediate connectivity to a variety of data stores and a rich set of out-of-the-box data transformation components. To learn more or to sign up for a 7 day free trial, please visit www.xplenty.com.
About Waarde Capital
Waarde Capital partners with entrepreneurs and executives to build valuable businesses. Its team of investment professionals works with companies at every stage of the funding lifecycle, from initial seed investments, through startup and growth capital, to management buyouts and recapitalizations. Waarde Capital brings funding, and assists in the strategic development of portfolio companies and, if necessary, offers debt financing that may significantly increase the value of the co-owned equity. For more information visit http://waardecapital.com/.
About Magma Venture Partners
Magma Venture Partners is a leading Israeli venture capital firm, dedicated to investing in Israel's Information, Communications and Technology space ('ICT'), including the software, semiconductor and new media spheres. Magma seeks bright ideas at their earliest stages, and serve as a springboard for our entrepreneurs as they develop and evolve into industry leaders. Magma goal is to enable a flow of innovation from the earliest stage all the way through until a company realizes its potential reach. Startups in its portfolio have included crowdsourced navigation app Waze (acquired by Google), mobile analytics company Onavo (acquired by Facebook), and Provigent (acquired by Broadcom).
Magma Venture Partners prides itself in being a true partner for innovation.
For more information: http://www.magmavc.com/
*Allied Market Research, “Hadoop Market Forecasted to Reach $50.2 Billion by 2020,” 2014
**McKinsey Global Institute, “Game changers: Five opportunities for US growth and renewal,” 2013
Chris Harihar, Crenshaw Communications for Xplenty