Data lake platform Dremio raises $160Mn

Dremio has raised $160 million in a Series E round of funding, valuing the data lake platform vendor at $2 billion. The Dremio platform enables users to use cloud data storage for data lakes, with the ability to organize and query the data for business intelligence, operations and data analytics.

Dremio is helping to accelerate business applications for data lakes in a number of ways. Dremio helps automate the ingestion, access and processing of data in data lakes for data scientists, business intelligence users, data engineers and other data consumers.

Analyst Noel Yuhanna said, “We find that data lakes remain complex to deploy and manage based on our customer inquiries. With most organizations dealing with data explosion, turning data into actionable insights is requiring considerable time and effort, as a result, impacting growth and innovation.”

Last year, Dremio launched its Dart Initiative, a series of efforts designed to help accelerate data lake query performance. This effort to further improve performance with the Dart Initiative will continue in 2022.

Dremio's platform will also continue to expand its integration with the Apache Iceberg data lake table format open-source project. Dremio is also planning to integrate the Apache Arrow Flight SQL open-source technology into its platform.