- Dremio, a Santa Clara, Calif.-based data lake transformation company, raised $135m in Series D funding
- The round, which brings the company’s valuation to $1 billion, was led by Sapphire Ventures with participation from existing investors
- The company intends to use the funds to expand its engineering centers around the globe, grow its customer-facing organization, contribute to open-source initiatives
- Dremio also provides a data lake service solution to deliver faster time to analytics, eliminating the need for proprietary systems
- Then the system eliminates the need to copy and move data to proprietary data warehouses or create cubes, aggregation tables and BI extracts
- Customers include brands like UBS, NCR and Henkel, among others and works with its strategic partners such as Amazon, Microsoft, and Tableau
