Start-up company Jut, founded by Riverbed co-founder Steve McCanne, has secured $20 million in series B financing. The investment round was led by Accel Partners with participation from LightSpeed Venture Partners and Wing. Jut promises to provide a new way for enterprise applications to deal with ‘massive data’, as a successor to big data.
The San Francisco based start-up will use the capital to expand its engineering team and bring the first version of its product to market.
Still in stealth mode, Jut has built an ambitious vision around the future of big data applications. “It’s now clear that open source big data is radically changing the way information infrastructure is architected for scale and cost,” said Steve McCanne, founder and CEO of Jut, “but the real opportunity lies in rethinking how enterprise applications are architected so they can make sense out of the massive volumes of big data.”
“Jut lives above big data infrastructure and provides a better way for enterprises to capture, analyze, and derive insight from complex data,” said Apurva Dave, VP of Marketing at Jut. “We will provide the technology by which enterprises will architect applications that deal with these massive and growing data sets.”
Co-founder Riberbed and FastForward Networks
The management team of Jut is not disclosing the technical details of what Jut is building yet, but the VP of Marketing is willing to discuss the scale of what the company’s doing right now. Dave: “ It’s big. It is not a product designed to be swallowed up by a bigger company and then be a feature. Or even be a product line. We’ve got more in store. You could say our vision is around the future of big data. But it’s not about the big data infrastructure itself. That’s an interesting area, but one served by Cloudera and their competitors. We’re not going to get into that fray.”
At the point when Hadoop and other big data projects become mainstream for enterprise customers, those enterprises would look for more powerful ways to capture and analyze data, as well as drive insight from ever increasing, unwieldy data sets.
Dave: Jut’s vision is to ride on top of big data infrastructure and provide the technology by which enterprises will architect applications that deal with these massive and growing data sets. It’s an incredibly fun problem to work on – it has a grand scale, will impact companies of all shapes and sizes, and is at the cutting edge of the enterprise technology revolution.”
Jut was founded by a team that knows how to build successful companies around category-defining technology. Steve McCanne co-founded Riverbed and grew Riverbed to a billion dollar revenue run-rate. He previously co-founded FastForward Networks, acquired by Inktomi and now a part of Yahoo. The management team includes:
- Steve McCanne, CEO
- Larry Castro, CFO
- Mike Demmer, VP Engineering
- Apurva Dave, VP Marketing