Firebolt, a cloud data warehouse purpose-built for high performance analytics, has unveiled a new class of cloud data warehouse as a service and announced $37 million of financing. Thanks to its “groundbreaking” technology, Firebolt, would allow companies to analyze much larger volumes of data than previously possible.
Firebolt delivers its high-performance analytics solution for the most challenging data requirements at the multi-terabyte and petabyte scale. This would require fewer cloud resources while improving the ROI of collecting data. It would also enable a myriad of new data-driven use cases “with real business impact.”
The $37 million in funding included participation from Zeev Ventures, TLV Partners, Bessemer Venture Partners and Angular Ventures.
Firebolt’s co-founder & CEO, Eldad Farkash, was previously the co-founder & CTO of Sisense, one of the leading business intelligence products on the market. Saar Bitner, Firebolt’s co-founder & COO, served as the GM & CMO at Sisense. They realized that with terabytes of data, cloud data warehouses could not scale to deliver the performance and efficiency companies needed to power their BI tools and analytics.
Firebolt delivers a sub-second interactive analytics experience with terabytes to petabytes of data. It would enable analysts, employees and end customers to gain the insights they need without having to wait for the results or worry about costs.
“While companies can store massive amounts of data, most organizations are only able to analyze a fraction of that big data, and often find themselves looking at stale data that does not reflect the current state of their business,” said Eldad Farkash, co-founder and CEO of Firebolt. “For companies to flourish today, they need to move fast, and they should not be forced to make data compromises to achieve only a small part of the business value that their data holds. With Firebolt, organizations can finally gain the insights they need without breaking the bank.”
Firebolt would deliver multiple benefits for companies with growing data including:
- A fast cloud data warehouse – An order of magnitude faster performance at multi-terabyte/petabyte scale that would enable anyone to interact with the data with sub-second performance.
- End-to-end elastic scale – Built for AWS and with a lean, efficient, SQL query engine, Firebolt decouples storage and compute, allowing users to spin up multiple isolated compute resources on the same database. Firebolt is a cloud data warehouse that would take the elasticity of the cloud to new levels by allowing granular control over hardware and scale, “with the simplicity of a mouse click”, for any type of data and analytics and any number of users.
“Firebolt created a SaaS product that changes the analytics experience over big data sets,” said Oren Zeev of Zeev Ventures. “The pace of innovation in the big data space has lagged the explosion in data growth, rendering most data warehousing solutions too slow, too expensive, or too complex to scale. Firebolt takes cloud data warehousing to the next level by offering the world’s most powerful analytical engine. This means companies can now analyze multi-terabyte/petabyte data sets easily at significantly lower costs and provide a truly interactive user experience to their employees, customers or anyone who needs to access the data.”