November 07, 2011, 1:10 PM — Hadoop-based data management software and services vendor Cloudera on Monday announced a $40 million round of funding intended to "support aggressive growth."
Cloudera, which this week hosts the Hadoop World 2011 conference in New York City, targets its open-source technology toward enterprises trying to manage explosive data growth.
The funding round was led by Frank Artale of Ignition Partners. Existing Cloudera investors
Accel Partners, Greylock Partners, Meritech Capital Partners and In-Q-Tel also participated.
Hadoop is an Apache data management software project that evolved to help enterprises derive business value from the torrent of data from a widening variety of sources, including blogs, applications and social media.
Indeed, social-media sector leaders such as Facebook, Twitter and LinkedIn use Apache Hadoop to organize data in their vast respective networks.
Cloudera, based in Palo Alto, Calif., launched its first commercial product in March 2009, with help from $5 million in funding led by Accel Partners. The company unveiled Cloudera Enterprise in June 2010.
"This investment validates the success and innovation that Cloudera has achieved to date and the enormous market opportunity for Big Data managed by Hadoop," Mike Olson, CEO of Cloudera, said in a statement.