Israeli Startup Firebolt Takes On Cloud-Native Data Analytics With $37M Round

Israeli startup Firebolt, the developer of a cloud-native enterprise data analytics platform, emerged from stealth mode on Wednesday to announce the completion of a $37 million financing round with investors Zeev Ventures, TLV Partners, Bessemer Venture Partners and Angular Ventures.

Firebolt was founded two years ago by members of the original team at Sisense, the New York-based business analytics company now valued at over $1 billion.

The startup says it is entering the data warehousing market with a new cloud analytics solution that is faster – “up to 182 times faster than other data warehouses” – more efficient, drives better performance and takes up fewer cloud resources.

Firebolt says its cloud data warehouse as a service delivers high-performance experiences with terabytes to petabytes of data and enables analysts, employees and end customers to gain fast, cost-efficient insights.

“Firebolt is a complete redesign of the data warehouse for the era of the cloud and data lakes,” writes Firebolt co-founder and CEO Eldad Farkash. “Our aim is to enable organizations to deliver an incredible data analytics experience regardless of the size and usage patterns of a company’s data without having to constantly be worried about performance and costs.”

The solution is built for AWS with an efficient SQL query engine, Firebolt says, and decouples storage and compute, allowing users to access multiple isolated compute resources on the same database

“While companies can store massive amounts of data, most organizations are only able to analyze a fraction of that big data, and often find themselves looking at stale data that does not reflect the current state of their business,” Farkash said in a statement on Wednedsay.

“For companies to flourish today, they need to move fast, and they should not be forced to make data compromises to achieve only a small part of the business value that their data holds. With Firebolt, organizations can finally gain the insights they need without breaking the bank,” he added.

Oren Zeev of Zeev Ventures said Firebolt created a SaaS solution “that changes the analytics experience over big data sets.”

“The pace of innovation in the big data space has lagged the explosion in data growth, rendering most data warehousing solutions too slow, too expensive, or too complex to scale,” Zeev added, claiming that Firebolt is taking cloud data warehousing to the next level by “offering the world’s most powerful analytical engine.”

Enterprises and companies can analyze multi-terabyte/petabyte data sets easily “at significantly lower costs and provide a truly interactive user experience to their employees, customers or anyone who needs to access the data,” Zeev said.

Firebolt is based in Tel Aviv.

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