Accel Partners Fuels Second Big Data Fund With $100 Million
June 20th, 2013 By: John Rath
Accel Partners commissions a second fund for big data with $100 million, Good Data receives a $22 million Latin American investment, and Hortonworks certifies Concurrent’s Cascading application framework.
Accel Partners announces $100M Big Data Fund 2. Seeking to further its big data portfolio, leading venture capital Accel Partners anounced that it is allocating $100 million for a new Big Data Fund 2. The additional capital will support entrepreneurs that are using the technology platforms that were built in the first wave of big data startups, to create Data Driven Software (DDS) designed to help the workforce at large make smarter decisions through deeper insights. “We are seeing an accelerated rate of innovation in big data, with the newest generation of entrepreneurs re-imagining ways to extract the most value out of big data and fundamentally change the way we work and process information,” said Ping Li, Partner, Accel Partners. “In addition to the capital support from Big Data Fund 2, we continue to deepen the expertise within our network with thought leaders from related fields in data driven enterprise software applications, and are excited to share that Anthony Deighton and Shlomo Kramer will be joining our Big Data Advisory Council.” In its initial Big Data fund Accel helped fund such companies as Cloudera, Couchbase, Nimble Storage,Prismatic, RelatelQ, Sumo Logic and Trifacta.
GoodData receives $22 million investment. Cloud-based big data analytics platform company GoodData announced that TOTVS Ventures, the largest enterprise software company in Latin America, is leading a $22 million Series D investment in GoodData. TOTVS Ventures joins existing GoodData investors Andreessen Horowitz, General Catalyst Partners, Next World Capital and Tenaya Capital, who also participated in the latest round. This latest round raises GoodData’s total funding to $75.5 million. With this investment GoodData gains access to the $9 billion Latin America software market through TOTVS’s distribution channel in 24 markets throughout the region. “By combining GoodData’s intuitive analytics with our market-leading enterprise software, we are creating the cloud analytics leader in Latin America and giving access to Big Data solutions to our clients in Latin America,” said Alexandre Dinkelmann, executive vice president of strategy and finance at TOTVS. “We see enormous benefit for TOTVS’s customers, who now have access to the most innovative and advanced business intelligence platform.”
Concurrent teams with Hortonworks. Enterprise big data application platform company Concurrent announced that Hortonworks has certified its Cascading application framework against the Hortonworks Data Platform (HDP). The certification ensures that enterprises can take advantage of Concurrent’s Cascading application framework and HDP to ease Hadoop Big Data application development and bring machine-learning applications to the masses. “Hadoop adoption continues to grow as organizations look to take advantage of new data types and build new applications for the enterprise,” said Shaun Connolly, Vice President, Corporate Strategy of Hortonworks. ”By combining our enterprisegrade data platform and unparalleled growing ecosystem with the power, maturity and broad platform support of Concurrent’s Cascading application framework, we have now closed the modeling, development and production loop for all data-oriented applications.”