Share
I am extremely pleased to announce that we have recently raised an $8.1 million investment round. The round was led by our new partner Square Peg Capital, with participation from our existing investor, Pitango Venture Capital. Arad Naveh of Square Peg will be joining our board of directors and I am looking forward to working with him and benefiting from his vast experience as both an entrepreneur and an investor.
While this funding round is a great validation from the investor community, what really excites us at Jethro is the tremendous feedback we've been getting from customers who are using our product to get the most business value out of their big data. We'll be telling some of these customer stories in the coming weeks.
This is an important milestone for the company, and as always, it is the result of the work of many. I especially want to thank my co-founders, Ronen Ovadya and Boaz Raufman, but the entire team at Jethro deserves recognition for their dedication and hard work. And we're just getting started!
Below is the full text of the official press release.
If you haven't already, I encourage you to download our product and see for yourself how you can achieve truly interactive BI on big data. Oh, and if you happen to be in Hadoop Summit in San Jose this week, please drop by to say hi at booth G9.
Eli Singer, CEO, Jethro
Jethro Secures $8.1 Million in Series B Funding to Advance SQL on Hadoop
Square Peg Capital leads round to accelerate go-to-market efforts
New York, NY – June 9, 2015 -- Jethro, provider of the fastest SQL-on-Hadoop solution in the market, today announced that it has closed an $8.1 million Series B financing round led by Square Peg Capital, and including existing investor Pitango Venture Capital. This latest funding round will be used to increase investment in sales, marketing and development of Jethro’s unique technology.
“Eli and the amazing team at Jethro are bringing a revolutionary technology to enterprises. Hadoop users have gained great scale and cost effective storage, largely at the expense of performance. With Jethro, enterprises quickly see improved performance, making Hadoop a viable enterprise infrastructure,” said Arad Naveh, partner with Square Peg Capital. “There is a huge market opportunity for interactive BI and fast SQL-on-Hadoop. We are proud to back Jethro and the company’s breakthrough solution.”
This funding round follows closely on the heels of the general availability of Jethro’s unique SQL-on-Hadoop software, which uses indexes to query data up to 100 times faster than alternative SQL on Hadoop solutions. Jethro works with popular business intelligence (BI) solutions, including Qlik, Tableau and MicroStrategy, to enable faster access to data and allow for true interactive BI.
“Business intelligence is still hampered in the big data world by slow access to Hadoop data. Jethro solves that issue, allowing BI on big data at a speed that users currently experience with their EDW systems,” said Eli Singer, co-founder and CEO, Jethro. “Jethro is empowering enterprises to gain insights at the speed of business. With the support of Square Peg and Pitango, we’re bringing interactive BI on big data to the enterprise.”
Jethro combines search engine indexing technology with modern column store database design to create a single solution. The resulting product addresses the growing business demand for storing vast amounts of data while providing lightning-fast queries. Jethro’s breakthrough full-indexing technology enables BI users to enjoy interactive responses with big data. Jethro works seamlessly with any BI tool through a standard ODBC/JDBC interface, and is compatible with Hadoop distributions, including Cloudera, Hortonworks, MapR and Amazon.
"Our query performance on big data residing in Hadoop has improved dramatically since we started using Jethro,”said Slava Borodovsky, Senior Director of Business Intelligence at Fiverr and a Jethro customer since 2014. “This validates our initial belief that Jethro is the superior approach to other solutions we have tried. We are now implementing Jethro in our BI infrastructure to give us better insights into Fiverr users’ behavior.”