US-based MapR Technologies has this week closed a funding deal worth $110 million, with Google Capital chipping in a big chunk of the cash.
The Silicon Valley startup has taken on $80 million in equity financing led by Google Capital and another $30 million debt facility from Silicon Valley Bank.
“We led this round of funding because we believe MapR has a great solution for enterprise customers, and they’ve built a strong and growing business,” Google Capital general partner, Gene Frantz said.
Google Capital’s involvement comes from the company’s commitment to open source software platform Hadoop, MapR CEO and founder John Schroeder said.
And yes, attracting Google Capital funds has got the company “feeling lucky”.
“This investment round recognises our customers’ rapid adoption, their tremendous results and ROI and also the capital efficiency of our business model,” Schroeder said.
“It’s extremely gratifying to bring these high-calibre strategic investors on board, including Qualcomm who is the leader in the mobile ecosystem and also at the forefront of the Internet of Things, to help us accelerate growth and position the company for global leadership.”
The company said financing will be used to grow its big data and analytics arms.
“The investment will also fund additional engineering resources to further its technology advantage and support open source projects, such as Apache Drill, Hadoop 2.2 with YARN, and Apache Spark,” the company said.
A condition of the deal will see Frantz join the MapR board of directors.
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