Varada, a Tel Aviv-based big data query acceleration company, recently announced a $12M (approx €10M) Series A round of funding led by MizMaa Ventures, an early-stage VC venture capital ﬁrm, with participation by Gefen Capital.
The existing investors including Lightspeed, StageOne Ventures, and F2 Venture Capital also participated in the round. The funding comes as the Israeli startup is preparing to launch its data virtualisation platform in general availability.
What problem does Varada solve?
Right now, the data space is driven by two emerging technologies: data lake and data virtualisation. Notably, the data lake enables organisations to avoid extensive, pre-consumption ETLs (Extract, Transform, Load) and significantly cut down on time-to-market.
With data virtualisation, disparate data sources are unified and data consumers can now query any data from a single end-point. This eliminates the heavy IT operations burden of configuration, modeling, and movement of data. However, the current data virtualisation options are hamstrung by scaling limitations and this is the problem Varada aims to solve.
“Varada is solving the biggest headaches of data infrastructure teams while giving business units the tools to quickly and cost-effectively turn their priceless data assets into value for customers,” says Eran Vanounou, CEO of Varada. “I know this problem firsthand, as I was the CTO of LivePerson before joining Varada. When I met the founding team, I was blown away at their vision for how to solve one of the thorniest problems in big data. The platform we’re building enables revolutionary ease-of-use, fast time-to-market, and cost control. This round of Series A funding will accelerate the progress of our solution and allow us to quickly scale our plans to deliver the new standard for data virtualisation.”
“Zero data-ops” solution
According to Varada, it is building a platform to revolutionise data virtualisation by offering an agile, “zero data-ops” solution. The company’s patented indexing technology uses machine learning to accelerate relevant and high-priority queries automatically without any overhead to query processing or any data maintenance. As per the company, the indexing works transparently for users, and indexes are managed automatically by Varada’s proprietary cost-based optimiser.
Varada was founded by David Krakov, Roman Vainbrand, and Tal Ben Moshe, veterans of the Dell EMC XtremIO core team, and is dedicated to leveraging new architecture to take on the challenge of data and business agility. The company has headquarters in Tel Aviv, with U.S. offices in San Mateo, California.
Main image credits: Varada