Data warehouse startup Yellowbrick Data has raised $81 million in a series C round of funding led by DFJ Growth, with participation from Alphabet’s VC arm GV, Menlo Ventures, Third Point Ventures, DFJ Growth, BMW i Ventures, IVP, Next47, and Threshold Ventures.
Palo Alto-based Yellowbrick was founded in 2014 but only emerged out of stealth last July, when the startup announced it had raised $44 million. Yellowbrick followed that up with a $48 million series B round in October, and this latest round takes its total raised to around $173 million.
Yellowbrick’s platform serves as a repository for holding and querying data — companies use it to tap into their internal pools of data in order to unlock insights and make better business decisions.
Countless data warehousing platforms are already in play, such as Amazon Redshift, Google’s BigQuery, and Microsoft’s SQL Data Warehouse, but a handful of new players have emerged to disrupt the billion-dollar industry.
The global data warehousing market reportedly generated more than $18 billion in 2017, a figure that is estimated to grow to nearly $35 billion by 2025, according to Allied Market Research. This seems to be driving the recent uptick in data warehousing investments.
“We invested in Yellowbrick because of the tremendous momentum the company has achieved,” said Randy Glein, partner at DFJ Growth. “Yellowbrick is quickly providing a new generation of ultra-high performance data warehouse capabilities for large enterprises. The technology is a step function improvement on every dimension compared to legacy solutions, helping modern enterprises digest and interpret massive data workloads in a fraction of the time at a fraction of the cost.”
Yellowbrick rival Snowflake last year raised more than $700 million across two rounds of funding, with its most recent $450 million tranche valuing the company at $3.5 billion. While Snowflake focuses more on the public cloud, with support for AWS, Azure, and — as of yesterday — Google Cloud, Yellowbrick is geared toward on-premises datacenters and private and hybrid clouds. However, the company has indicated that it plans to fully support public clouds in the future.
Other startups operating in the data warehousing sphere include Varada, which raised $7.5 million earlier this year, and Incorta, which raised a $15 million series B extension round last year from Microsoft’s M12 and Telstra Ventures.