Dremio is a Santa Clara-based data lake transformation company. It closed a $160m Series E financing round. This brings its value to $2 billion.
Adams Street Partners led the round with existing investors Sapphire Ventures and Insight Partners as well as Lightspeed Venture Partners, Norwest Venture Partners and Cisco Investments. Adams Street Partners will be joined by StepStone Group, DTCP and other new investors.
The company plans to use the funds for technology innovation acceleration, customer-facing growth, open-source initiatives and education and support of data lake practitioners.
The CEO of the company, Billy Bosworth, founded it in 2015. Dremio, an SQL engine, is a bridge between data lake storage, and end-users who wish to query the data directly for interactive dashboards and high-performing analytics. It does not require copying data into data warehouses or creating cubes or aggregation tables.
Customers from all industries are served by the company, including brands such as KKR and Swiss Re, FactSet or NCR, Nutanix, and Nutanix.