- Varada, a data virtualization start-up, recently announced a USD 12 million funding (Series A) round.
- Series A round was led by Israeli early-stage fund MizMaa Ventures, with participation by Gefen Capital.
- The data virtualization platform was built to help prioritize big data workloads to balance cost and performance using patented indexing technology.
- The start-up is also active in promoting the open-source SQL query engine, PrestoSQL, and PrestoDB.
Varada, a data virtualization start-up targeting significant data query acceleration, recently announced about its USD 12 million funding (Series A) round. The Series A round was preceded by Israeli early-stage fund MizMaa Ventures, with involvement by Gefen Capital.
“If you look at the storage aspect for big data, there’s always innovation, but we can put a lot of data in one place,” commented Eran Vanounou, Varada CEO and Co-founder. “But translating data into insight? It’s so hard. It is costly. It is slow. It’s complicated.” Eran learned this lesson during his time as CTO of LivePerson – a classic big data company.
Tel Aviv-based Varada is preparing a data virtualization platform for boosting big data workloads through its patented indexing technology. The platform is expected to help prioritized workloads to balance cost and performance.
Varada’s value proposition aims to leverage data virtualization to query data from disparate sources from a “single endpoint,” thus eliminating IT operations, including modeling and configuration. Like these tactics, the data virtualization program seeks to reduce data movement, thus reducing latency.
Additionally, data engineering programs have added data virtualization layers to accelerate data analytics workloads irrespective of where they reside.
Also, the start-up is targeting industry leader Snowflake that lately introduced a data cloud portal where enterprises can execute data-oriented tasks beyond SQL analytics and data warehousing. Unlike Snowflake, Varada does not need users to configure their data into a proprietary format.
“This round of Series A funding will accelerate the progress of our solution and allow us to quickly scale our plans to deliver the new standard for data virtualization,” Eran commented.
The indexing technology of Varada uses ML to speedily resolve queries by eliminating one step required for query processing and data maintenance. The company’s advanced cost-based optimizers play an essential role in managing indexes. The data virtualization framework is developed to classify which queries to accelerate and which data access indexes to sustain.
Varada’s investors peddle the data virtualization start-up as the successor to present DevOps teams that have boosted the delivery of data-driven analytics workloads.
In 2017, Varada was started by Tal Ben Moshe, David Krakov, and Roman Vainbrand, experts of the Dell EMC’s XtremIO team. As per the report published by Crunchbase.com, the company has invested about USD 22 million in venture funding.
The start-up is also active in promoting the open-source SQL query engine, PrestoSQL, and PrestoDB.