Big data and analytics startup Qubole has raised around ₹163 crore ($25 million) in a new funding round led by Singtel Innov8 and Harmony Partners. Singtel Innov8 is a Singapore-based corporate venture arm while Harmony Partners is a New York-based VC firm.
Along with them, existing investors of the company — Charles River Ventures (CRV), Lightspeed Venture Parners, Norwest Venture Partners, and Institutional Venture Partners (IVP) have also participated in the current funding round.
The funding will be primarily used by the company to expand its operations in Asia Pacific (APAC). The company has appointed Chief Operating Officer and Senior Vice President of Products for the APAC region. The company will also spend money on Research & Development, Sales, and Marketing.
As per the company, its revenue has grown at more than 100% year-over-year. Ashish Thusoo, CEO of the company, said,
Qubole is now at a pivotal growth point. Our sales momentum and product innovation in the last year have propelled us to the next stage of our global expansion.
Punit Chiniwalla, senior director, Singtel Innov8, said,
There is a significant opportunity for big data in the Asia Pacific region. Qubole makes it easy for enterprises to access analytics for more accurate decision making.
Qubole was started in 2011 by Ashish Thusoo and Joydeep Sen Sarma. The company claims to be the largest cloud-agnostic big data platform in the world. Headquartered in Santa Clara, California, the startup has a major office in Bengaluru. It also0 has a sales office in Singapore.
The company’s SaaS (software as a service) platform helps customers analyse their data stored on cloud servers. It counts the likes of Autodesk, Lyft, Samsung, Ola, and Saavn among its clients.
Earlier, the company raised its Series C funding of $30 million in January last year. The current round takes the total amount of funding raised by the company till date to $75 million.