Big data company Infoworks raises $15 mn from Centerview Capital, Nexus
Data warehousing company Infoworks.io Inc. has raised $15 million (Rs 98 crore) in its Series B round of investment led by Centerview Capital Technology.
Existing investor Nexus Venture Partners also took part in this round, Infoworks said in a statement.
As part of the investment, Ned Hooper, partner at Centerview, has joined the board of the company. Nexus co-founder Naren Gupta is already on the startup's board.
"Building and managing data warehouses on Hadoop is imperative for enterprises in the age of Big Data," said Hooper.
Hadoop is an open source, Java-based programme that enables large data sets to be stored. The Infoworks platform provides automated, end-to-end solutions for modern data warehousing on Hadoop. It provides functionalities such as data ingestion, data synchronisation and building data models and cubes on a single platform, reducing the time for production from months to days.
Infoworks will use the new capital to scale up its go-to-market and customer success programmes to meet customer demand, the statement said.
"The requirement to build data warehouses on Hadoop is critical for Fortune 500 companies to capture the value of their data," said Amar Arsikere, chief executive and co-founder of Infoworks. He said the Centerview team brings sector expertise, operational experience and relationships with Fortune 500 companies that will help Infoworks grow sales and meet customer demand.
Infoworks was founded in 2014 by Arsikere and Buno Pati, an entrepreneur and partner at Centerview. Arsikere previously worked in the engineering verticals at gaming firm Zynga and Google.
In September 2015, the San Jose-headquartered company secured $5 million in Series A financing from Nexus, Knoll Ventures and other investors.
Centerview is a Palo Alto-based investment firm that has previously invested in companies such as SecureWorks, Quantenna Communications and Acquia.
Nexus is an India-US venture capital firm. It has funded companies across technology, Internet, media, consumer, and business services sectors. Its portfolio companies include Helpshift, Snapdeal, Netmagic, Druva, Aryaka, biz2credit and Pubmatic.