Dremio today marked the next major phase of the data lake engine vendor’s evolution, raising $135 million in a Series D round of funding.
The challenge of using data lakes effectively is a big opportunity for vendors and enterprises alike.
The Dremio platform provides a data lake engine that gives organizations the ability to rapidly organize and query information stored in data lakes.
Last year was a busy time for Dremio, appointing new CEO Billy Bosworth in February. Bosworth was previously CEO of database vendor DataStax.
Dremio also released multiple updates to its core platform over the course of the year. In October 2020, Dremio released the Fall 2020 update, with enhancements designed to accelerate cloud data lakes for business intelligence use cases.
In this Q&A, Bosworth details the challenges and opportunities of the data lake market.
Why are you raising money now and was it influenced by the Snowflake IPO (initial public offering)?
Billy Bosworth: When we looked at our operating plans and multiyear projections, we wanted to take a