Almost tripled its valuation for $3.35 billionStarburst leverages 3X customer and ARR growth to set a new standard for enterprise data analytics
BOSTON, February 9, 2022 /CNW/ – Starburst, the Everywhere Analytics Company, today announced that it has been awarded a $250 million Series D funding round during a $3.35 billion Evaluation. The funding round was led by Alkeon Capital, with participation from Altimeter and B Capital Group, as well as existing investors Andreessen Horowitz, Coatue Management, Index Ventures and Salesforce Ventures. The round brings Starburst’s total funding to date to $414 millionas the company ramps up operations to meet growing industry demand for faster analytics on decentralized data.
“Every organization has a top-down mandate to take more data-driven actions, but increasing data volumes have forced organizations to move, misplace, and mismanage data, creating blind spots that can negatively impact on decision-making,” said justin borgman, CEO and co-founder of Starburst. “Starburst streamlines data access and analytics across silos, clouds, and lines of business, enabling organizations to become truly data-driven. Today’s funding reflects our continued growth and our “workhorse” mentality, going from profitability in our first two years of operation to tripling customer adoption in the last 12 months.”
Starburst breaks down the legacy barriers created by a decades-old paradigm: the single source of truth. This data centralization approach, commonly associated with data warehousing, requires data to be moved and prepared before it can be analyzed. This process is expensive, creates data lock-in, and forces compromises on how quickly data teams can analyze the data they need to make critical decisions.
Starburst is powering a new era of data analytics for businesses around the world, including Zillow, Standard Chartered, and Carrefour Brazil. Starburst removes the need to move data before analyzing it; Significantly reducing time to insight and fueling faster decisions. Basic technical use cases cover fast SQL-based queries over data lakes or lake houses, through to more complex use cases joining data sets on a distributed Data Mesh architecture. Ultimately, Starburst is able to help organizations like FINRA detect fraud, AssuranceIQ increase conversion rates by 10%, and Priceline reduce data storage costs.
“Starburst is a central part of the foundation of our data and analytics strategy at Priceline. We’ve been able to speed up the time to insights, while reducing our storage costs by 5-10X leaving the data in its raw form and accessing it through Starburst,” said Sachin Menon, Chief Data Officer, Priceline. “With Starburst, we are building a solution that enables our data consumers to make faster decisions on more data, while reducing the complexity and cost of data engineering.”
Starburst is the foundation of Data Mesh, a new approach to data management based on distributed data and treating data as a commodity. Starburst Enterprise spearheads data delivery as a product, accelerating insights for domain users and freeing data teams from time-consuming manual tasks. Today, Starburst also announced new features for Starburst Enterprise that allow organizations to create and share data products. Starburst Galaxy is a Software-as-a-Service (SaaS) offering that enables data lake and lake house analytics, as well as cross-cloud analytics. Both solutions are based on the open source Trino, the distributed query engine originally created at Facebook as Presto.
“At Slalom, we seek to create a modern data culture with our customers and the Data Mesh architecture is a key part of this strategy,” said Antoine Gould, Senior Director of Data and Technology at Slalom. “We see customers already on the Data Mesh journey and we guide customers through this transformation and see Starburst as an important and transformative technology in this journey.”
“The importance of data analytics has been amplified by the pandemic as organizations need new insights to manage supply chain challenges, meet changing customer needs and support a workforce remote,” said Abhi Arun, managing partner at Alkeon Capital. “Having quick access to more data sources will not only improve basic business analytics, but will also power machine learning models and accelerate AI initiatives. By eliminating the need to move and centralize data in one place, Starburst makes it faster and easier for organizations to get data-driven insights.”
Highlights of Starburst’s growth in 2021 include:
- The launch of Starburst Galaxy, bringing a powerful SaaS option to Starburst’s rapidly growing customer base.
- 3X growth in Starburst’s global customer base, following the establishment of UK-based European Starburst options, now with operations in Germany and in France.
- Increase in the number of employees by 3 times, including the hiring of key executives Javier Molina as Chief Revenue Officer, Tony Adams as VP Partners & Alliances, David Freeman as Vice President of Business Operations and Finance, and Adrian Estalaformer Chief Data Officer at Shell, as Vice President of Starburst, Data Mesh Consulting Services.
- Partner dynamics, including a partnership with Red Hat as an early member of the Red Hat OpenShift Data Science ecosystem, the availability of Starburst Enterprise Trino on Google Cloud Marketplace, and Alibaba Cloud. Starburst is now available on six major public and private cloud platforms, including AWS, Azure, GCP, Alibaba, Red Hat, and HPE.
To take place February 9 – 10, Starburst is hosting Datanova: The Data Mesh Summit, which will focus on creating business value through data management and analytics. To register, go to https://www.starburst.io/info/datanova2022/.
Starburst is the analysis engine for all your data. We provide the fastest and most efficient analytics engine for your data warehouse, data lake or data mesh. We unlock the value of distributed data by making it fast and easy to access, wherever it resides. Starburst queries data in any database, making it instantly actionable for data-driven organizations. With Starburst, teams can reduce the total cost of their infrastructure and analytics investments, avoid vendor lock-in, and use existing tools that work for their business. Trusted by companies like Comcast, FINRA, and Condé Nast, Starburst helps businesses make better, faster decisions on any data.
About Alkeon Capital
Alkeon Capital is a global investment firm that invests in private and public growth and technology companies and category builders. With over two decades of experience focused on people and innovation, Alkeon works closely with disruptive private companies to help them expand their addressable market, scale efficiently and transition seamlessly to public markets.
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SOURCE Starburst Data