This news comes on the heels of its Series D round. The company plans to use the funds to invest in product development and global expansion. Here are the top-line bullets you need to know.
Starburst, an enterprise data analytics company, has raised $250M in a Series D. The round drew participation from Alkeon Capital Management, Andreessen Horowitz, Coatue Management, and Salesforce Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Massachusetts-based Starburst offers a distributed SQL query engine that enables enterprises to run analytics on their data without moving it.
- The startup tripled its client base, headcount, and ARR in 2021.
- FINRA, Zillow, Carrefour Brazil, Priceline, Twitter, Condé Nast, Comcast, and Standard Chartered are included among its client base.
- Starburst currently maintains operations in North America and Europe, and is supported by a team of 350 global employees.
Source: Starburst
WHY DOES THE MARKET MATTER?
- The global data analytics market is expected to reach a value of $346.2B by 2027, growing at a CAGR of 30.7%, according to Market Research Future.
- The generation of increasing amounts of data across industries is contributing to market growth.
- The demand for solutions that enable remote data management has increased amid the pandemic.
