US-based IT firm MapR Technologies today said it has completed a $110 million financing (over Rs 660 crore), led by Google Capital, which will be used to expand its big data and analytics capabilities. Also Read - PhonePe announces that all of its UPI transfers online or offline will be free for all users
The round of funding, which saw Google Capital investing $80 million, also saw participation from Qualcomm Ventures. Existing investors Lightspeed Venture Partners, Mayfield Fund, NEA and Redpoint Ventures also participated in this round, MapR said in a statement. Also Read - If WhatsApp chats are end-to-end encrypted, how celebs are getting in the soup?
In addition to the equity financing, MapR has also completed a debt facility of $30 million, led by Silicon Valley Bank, it added. “We led this round of funding because we believe MapR has a great solution for enterprise customers, and they’ve built a strong and growing business,” Google Capital General Partner Gene Frantz said. He will also join the board of directors at MapR. “It is extremely gratifying to bring these high-calibre strategic investors on board, including Qualcomm, to help us accelerate growth and position the company for global leadership,” MapR Technologies CEO and co-founder John Schroeder said. Also Read - Tesla bags 1 lakh car order by rental car company Hertz, market value crosses $1 Tn
Besides big data and analytics, the new funding will increase global go-to-market programs to accelerate the deployment of MapR in mission-critical, real-time, and operational use cases, it said. MapR has clients across financial services, healthcare, media, retail and telecommunications firms.