Treasure Data has raised $15 million in a Series B funding round led by Scale Venture Partners, with participation, among others, by AME Cloud Ventures, a venture fund led by Yahoo! founder Jerry Yang. The startup provides subscription analytics as a service to customers who don't want to invest in their own analytics software and hardware.
Treasure Data bills itself as an alternative to Hadoop-based platforms or services. It manages and analyzes high-volume, high-velocity, semi-structured data generated by mobile applications, websites, applications running in the cloud, and network-connected devices (the Internet of Things).
The company says its platform currently receives 400,000 data records per second. A single Treasure Data customer uploads approximately 12 billion data records per day.
Venture capital continues to make its way into companies that offer solutions for storing and analyzing large amounts of data. This week alone, Basho announced a $25 million round, and MongoDB said it landed $80 million. Both are NoSQL database companies, but they enable widely distributed highly scalable databases that store enormous amounts of data.
A lot of money is going into technologies for ingesting, storing, and processing data generated by the Internet of Things, which has numerous implications for IT departments.
Treasure Data's analytics as a service includes capabilities for data collection, storage, and SQL analysis. It enables companies to collect data in “near real-time” and organizes and stores it for immediate use. View the data in tables, analyze with SQL, then view, store or export query results.
The startup claims more than 100 customers including credit score company Equifax, and smart watch maker Pebble. Another customer, Pioneer, uses it for car telematics.
“Companies have found the scale and velocity of IoT and big data to be very challenging,” Hiro Yoshikawa, founder and CEO of Treasure Data, said in a statement. “As a result, they spend far too much time and money building data infrastructures that serve only to distract them from their primary business objectives. We give our customers an easier way to manage massive data volumes while retaining flexible access to the raw data.”
Andy Vitus, partner with Scale Venture Partners, will join the Treasure Data board of directors.All current board members, or their respective funds, also participated in the financing round.