DataTorrent, a startup with software companies can use to process data in memory as it comes in, announced today a $15 million funding round.
DataTorrent integrates with the Hadoop open-source software for storing and processing lots of different types of data. Because it can handle and transform data as it streams in, it could be a good fit for applications that need to reflect real-time data. Finance and advertising services come to mind there.
Open-source stream processing tools have come to the fore in recent years — Spark Streaming and Storm are among the most popular. Meanwhile, cloud providers Amazon, Google, and Microsoft have all developed their own proprietary managed services for stream processing. Even so, some investors believe in the opportunity that lies ahead for DataTorrent.
DataTorrent started in 2012 and is based in Santa Clara, Calif. To date it has raised $23.8 million, including an $8 million round from 2013.
Singtel Innov8 led the new round in the startup. GE Ventures, AME Cloud Ventures, August Capital, and Morado Venture Partners also participated.