Starburst buys Israeli data analytics co Varada


US analytics unicorn Starburst today announced the acquisition of Israel data lake analytics company Varada. No financial details about the acquisition were disclosed but sources close to the deal estimate that it was for about $ 50 million.

Varada has developed data indexing technology, which will complement Starburst’s big data analytics platform. In Starburst’s most recent financing round in February, it raised $ 250 million at a company valuation of $ 3.35 billion. In total Starburst has raised $ 450 million.







Varada was founded in 2017 by CTO David Krakov, VP R&D Roman Vainbrand and chief architect Tal Ben Moshe, former executives at storage company XtremIO, which was sold to Dell EMC in 2012 for $ 500 million. Since 2018, Eran Vanunu has been Varada’s CEO. The company has 30 employees who are expected to join Starburst.

To date Starburst has raised $ 20 million from F2 Ventures, Lightspeed, Stage One Ventures, Gefen Capital and Mizmaa Ventures. Varada and Starburst have been collaborating since September 2020.

Starburst cofounder and CEO Justin Borgman said, “This acquisition is about helping customers take their data lake analytics to the next level, helping them move faster with critical decision-making while reducing data management costs. With the addition of Varada’s indexing technology, we can help data teams better serve the business, providing the right data right now. This powerful combination could not come at a better time when an uncertain economy is forcing companies to re-evaluate their budgets, as business demands only increase. “

Published by Globes, Israel business news – en.globes.co.il – on June 23, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.



Original Article reposted fromSource link

Disclaimer: The website autopost contents from credible news sources and we are not the original creators. If we Have added some content that belongs to you or your organization by mistake, We are sorry for that. We apologize for that and assure you that this won’t be repeated in future. If you are the rightful owner of the content used in our Website, please mail us with your Name, Organization Name, Contact Details, Copyright infringing URL and Copyright Proof (URL or Legal Document) aT spacksdigital @ gmail.com

I assure you that, I will remove the infringing content Within 48 Hours.

Leave a Reply

Your email address will not be published.

Business

Shekel sharply weaker against dollar after rate hike

The shekel has again been weakening sharply today against the dollar and strengthening against the euro, after the Bank of Israel raised Israel’s interest rate by 0.5% yesterday, to 1.25%. In the afternoon inter-bank trading, the shekel exchange rate is up 1.07% against the dollar at NIS 3.534 / $ and down 0.63% against the […]

Read More
Business

Guidebook for the next administration

PHILSTAR (Part 2) Chapter 3 of the book is a record of what happened to the Philippine economy during the pandemic, hopefully recording for posterity this very tragic period in the history of the whole world when more than 6 million people perished from the virus. I wrote all the articles in this chapter during […]

Read More
Business

Citi warns oil may collapse to $65 by the year-end on recession

Crude oil could collapse to $ 65 a barrel by the end of this year and slump to $ 45 by end-2023 if a demand-crippling recession hits, Citigroup Inc. has warned. That outlook is based on an absence of any intervention by OPEC + producers and a decline in oil investments, analysts including Francesco Martoccia […]

Read More