Investment in AtScale to stimulate growth of Big Data company
AtScale, a four-year-old company, has raised $25 Million in a Series C round. The investment in AtScale, lead by Atlantic Bridge, will boost the company’s growth in making Big Data useful for Businesses that have their own Business Intelligence (BI) tools.
“A sense of urgency comes from [big data] pioneers who took a leap to big data and implemented Hadoop. They have this ‘Oh shit!’ moment where they realize none of their BI tools can talk to this, and they can’t provide any value. They are looking for a solution to that problem.”
AtScale CEO and founder, Dave Mariani have been a pioneer in Big Data. He was at Yahoo when Yahoo developed Hadoop and, then, made it public. During his Yahoo years, he found that companies have BI tools and reporting tools that are not adequate to ingest and treat Big Data nor Big Data “traditional” results. Those tools were defined in the “small data” times. In his own words
Mr. Dave Mariani decided to start a new company which objective is to provide middle ware between Big Data, Big Data Tools and Big Data Analytics, and the software tools that company has invested in and are used to. In doing so, he is showing up one of the many reasons why companies are not profiting from their own Big Data investments (only 5% of the data captured by enterprises are used for decision making, according to The Economist)
Seven firms invested in AtScale in this round, lead by Atlantic Big Capital and included ne investors (Wells Fargo Securities, Industry Ventures) and recurring ones (Storm Ventures, UMC Capital, Comcast Ventures, XSeed Capital).
David Lam, General Partner at Atlantic Bridge Capital, summarized the revolution being lead by AtScale
“AtScale’s differentiated approach has turned the industry on its head. The company has incredible market uptake, very impressive customer adoption and a proven business model. It is setting the tone for the rest of the industry and building the stage for an upcoming Business Intelligence revolution. We are excited to join the team as the company operates one of the most disruptive and necessary changes in the Business Intelligence world.”