Welcome!

News Feed Item

SnappyData Raises $3.65 Million in Series A Funding Led by Pivotal, GE Digital and GTD Capital

SnappyData's Apache Spark(TM)-Based Breakthrough In-Memory Data Platform Reduces Development Complexity and Costs With Unified Engine for Real-Time Operational Analytics

PORTLAND, OR -- (Marketwired) -- 04/27/16 -- SnappyData, developers of the world's first in-memory hybrid transactional analytics database built on Apache Spark, today announced that it has secured $3.65 million in Series A funding, led by Pivotal, GE Digital and GTD Capital.

The funding will allow the company to further invest in engineering and sales. The SnappyData leadership team includes, Richard Lamb, Jags Ramnarayanan and Sudhir Menon, who worked together during their time at Pivotal to build Pivotal GemFire® into one of most widely adopted in-memory data grid products in the market.

As Spark has gained acceptance as a general purpose platform for processing large data volumes, customers are looking to extend it to solve big data problems ranging from streaming to in real time environments. SnappyData's technology provides a breakthrough alternative for customers who traditionally have used a combination of disparate products to handle their streaming, transactional and analytical data needs. All too often, these customers have to custom-stitch heterogeneous environments together, resulting in increased development complexity and total cost of ownership, as well as frustration.

"We aim to do for real time analytics what we did for in-memory transactions with Pivotal GemFire," said SnappyData President Richard Lamb. "This investment helps us address what we believe is a real pain point for customers in a wide variety of markets"

The SnappyData open source platform aims to eliminate these production woes by empowering customers to stream, transact and analyze, all in a single in-memory cluster. It achieves this via a unified engine for real-time operational analytics, wrapping stream analytics and the twin data-modeling technologies OLTP and OLAP into a single integrated cluster, coupled with breakthrough innovation in the form of approximate query processing, which offers real promise in revolutionizing big data processing. The solution fuses the big data computational muscle of Apache Spark in-memory design and unique "shared nothing" architecture that eliminates single points of failure while delivering very high performance based on Pivotal GemFire -- the most widely deployed enterprise-class in-memory data grid on the market.

"SnappyData was created in response to the continued growth and demand for mixed workloads -- and with it, the time-consuming and expensive task of stitching together multiple solutions," said Leo Spiegel, senior vice president of corporate development and strategy, Pivotal. "We are excited to support SnappyData's success."

"Hitachi is building innovative, end to end solutions for IoT, Healthcare and Energy," said Yozo Ito, president of Smart Information Systems Division, Hitachi Ltd. "SnappyData's vision for a next generation in-memory data platform combined with the ecosystem of industry-specific products and Hitachi's own capabilities that we will develop with that platform fits our SISD requirements very nicely. We see the potential to offer real-time operational analytics while lowering total cost of ownership for our customers across Japan and Asia."

"Investing in a company with a highly experienced team of engineers is always a great opportunity," said Marc-Thomas Schmidt, chief architect at GE Digital. "We look forward to working with SnappyData in their efforts to address industrial IoT real time data processing, which is very important for our Predix IIoT Platform. We are very excited to be working with a team that has been solving key problems in the real time big data area and look forward to collaborating with them to address the real time operational analytics challenge."

About SnappyData
SnappyData was built by a highly experienced team of engineers empowered to create a breakthrough open source software Big Data platform. That team spun out in January 2016 as a standalone entity. Its leadership is the original GemFire founders who previously pioneered in-memory data grid technology over a decade ago. Successfully acquired in 2010 by VMware and moved to Pivotal in 2013, Pivotal GemFire has since become the most widely deployed enterprise-class IMDG in the market with over 1,000 customers. Portland, Ore.-based, the SnappyData team is 30+ engineers strong and is currently hiring. More at www.snappydata.io

About Pivotal
Pivotal's cloud native platform drives software innovation for many of the world's most admired brands. With millions of developers in communities around the world, Pivotal technology touches billions of users every day. After shaping the software development culture of Silicon Valley's most valuable companies for over a decade, today Pivotal leads a global technology movement transforming how the world builds software.

About GE Digital
GE Digital connects streams of machine data to powerful analytics, providing Industrial companies with valuable insights to manage assets and operations more efficiently. World-class talent and software capabilities driving big gains in productivity, availability and longevity.

About GTD Capital
GTD Capital, is a Seattle based technology investment firm. Founded in 2006, GTD's investments include companies at various stages ranging from seed and early stage through later stage rounds.

CONTACT INFORMATION
David Oro
+1-707-558-8585
Email Contact
@DavidOro

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Tapping into blockchain revolution early enough translates into a substantial business competitiveness advantage. Codete comprehensively develops custom, blockchain-based business solutions, founded on the most advanced cryptographic innovations, and striking a balance point between complexity of the technologies used in quickly-changing stack building, business impact, and cost-effectiveness. Codete researches and provides business consultancy in the field of single most thrilling innovative te...
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City. Our Silicon Valley 2019 schedule will showcase 200 keynotes, sessions, general sessions, power panels, and...
Growing a digital business is essential for virtually every enterprise across every industry. Large enterprises and small businesses alike are digitizing their internal and customer-facing processes and services to increase efficiency, scale their businesses, and collect meaningful data. Yet, while many companies have launched digital services to collect data, we haven’t fully tapped into the potential of data analytics—even though studies suggest that digital will be a top differentiator in yea...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
ShieldX's CEO and Founder, Ratinder Ahuja, believes that traditional security solutions are not designed to be effective in the cloud. The role of Data Loss Prevention must evolve in order to combat the challenges of changing infrastructure associated with modernized cloud environments. Ratinder will call out the notion that security processes and controls must be equally dynamic and able to adapt for the cloud. Utilizing four key factors of automation, enterprises can remediate issues and impro...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City.
OpsRamp is an enterprise IT operation platform provided by US-based OpsRamp, Inc. It provides SaaS services through support for increasingly complex cloud and hybrid computing environments from system operation to service management. The OpsRamp platform is a SaaS-based, multi-tenant solution that enables enterprise IT organizations and cloud service providers like JBS the flexibility and control they need to manage and monitor today's hybrid, multi-cloud infrastructure, applications, and wor...
The Master of Science in Artificial Intelligence (MSAI) provides a comprehensive framework of theory and practice in the emerging field of AI. The program delivers the foundational knowledge needed to explore both key contextual areas and complex technical applications of AI systems. Curriculum incorporates elements of data science, robotics, and machine learning-enabling you to pursue a holistic and interdisciplinary course of study while preparing for a position in AI research, operations, ...
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
Atmosera delivers modern cloud services that maximize the advantages of cloud-based infrastructures. Offering private, hybrid, and public cloud solutions, Atmosera works closely with customers to engineer, deploy, and operate cloud architectures with advanced services that deliver strategic business outcomes. Atmosera's expertise simplifies the process of cloud transformation and our 20+ years of experience managing complex IT environments provides our customers with the confidence and trust tha...
Industry after industry is under siege as companies embrace digital transformation (DX) to disrupt existing business models and disintermediate their competitor’s customer relationships. But what do we mean by “Digital Transformation”? The coupling of granular, real-time data (e.g., smartphones, connected devices, smart appliances, wearables, mobile commerce, video surveillance) with modern technologies (e.g., cloud native apps, big data architectures, hyper-converged technologies, artificial in...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
Intel is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world's second largest and second highest valued semiconductor chip maker based on revenue after being overtaken by Samsung, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also manufactu...