Cloudera confirmed that its latest funding round, which included a strategic investment from Intel, amounts to $900 million. This financing round includes the previously-announced $160 million of funding from T. Rowe Price and three other top-tier public market investors, Google Ventures, and an affiliate of MSD Capital, L.P., the private investment arm of Michael Dell and his family, and a significant equity investment by Intel that gives them an 18% share of Cloudera.
“The market opportunity for companies to gain insight and build transformative applications based on Hadoop is tremendous,” said Tom Reilly, CEO of Cloudera. “Clearly, demand is accelerating and the market is poised for growth – for all of the players in this space, and we believe Cloudera will be the company to lead this global shift in extracting value from data. This position of strength and leadership is evidenced by the strong support of public market investors, large institutional investors and now key strategic investors including Intel, who’ve made sizable and significant contributions to cement our platform offering.”
Cloudera offers enterprise analytic data management software powered by Apache Hadoop, which is the underlying technology behind a growing number of Big Data projects.
Why so hot? Cloudera cited the following indicators on its target market:
- Gartner estimates the market for data management infrastructure (database management systems including data warehousing, storage management, BI, ECM and data integration, and related systems as $74 billion in 2014, growing to $94 billion by 2017.
- IDC predicted the big data technology and services market will grow at a CAGR of 27% from 2012 to 2017, growing to $32.4 billion, and that the Internet of Things will generate 30 billion autonomously connected endpoints.
- Gartner predicted that Big Data would drive $232 billion in IT spending through 2016.
- IDC estimates that the amount of data in the world will grow fifty-fold from 2010 to 2020.