Big Data Integration Specialist Talend Closes $40M Round
Talend will use $40 million in venture capital to capitalize on the burgeoning enterprise interest in Big Data and Hadoop-related technologies.
Talend, a provider of Big Data integration software, completed a $40 million funding round from Bpifrance and Iris Capital, with participation from existing investors Silver Lake Sumeru, Balderton Capital and Idinvest Partners.
Talend hopes to capitalize on the burgeoning markets for Big Data and Hadoop-related technologies. Research firm IDC predicts spending on Big Data technologies and services will grow by 30 percent in 2014, surpassing $14 billion. However, as demand for Big Data skills continues to outstrip supply, organizations are still facing significant adoption and deployment challenges.
"Our advantage is simple. The ability of Talend's solutions to evolve within a quickly changing technology landscape enables organizations to remove barriers to the adoption of modern data platforms such as NoSQL or Hadoop," said Bertrand Diard, Talend's co-founder and chief strategy officer. "Talend helps companies of all sizes obtain a fast return on their data assets, regardless of how they need to use them."
Talend's integration solution runs natively inside Hadoop, and Talend for Big Data supports the latest variations of Big Data platforms such as Hadoop 2.0/YARN and NoSQL.
As part of the investment, French public investment bank Bpifrance will join Talend’s Board of Directors.
Talend joins a score of other companies with Big Data-driven technologies that received investment dollars this year. Among them: Big Data application management firm WibiData, which raised $15 million in a Series B round of funding in May; GridGain, an in-memory software company that develops Big Data software and raised $10 million in July; and C9, which uses a cloud-based Big Data platform to power its analytics software and received a $12 million Series D round in September.