Posted on Thursday, Mar 19th 2015
A recent IDC research expects the Big Data technology and services market to grow 26.4% annually through 2018 to be worth $41.5 billion. The growth translates to six times that of the overall information technology market. Palo Alto-based Big Data vendor Cloudera is one of the prominent Billion Dollar Unicorn players in this market.
Cloudera was founded in 2008 by engineers Christophe Bisciglia, Amr Awadallah, and Jeff Hammerbacher together with Oracle executive Mike Olson to provide Big Data analytics leveraging the power of Hadoop.
Cloudera became one of the first companies to commercialize Apache Hadoop and to develop solutions for enterprises built on this open source technology. Cloudera released their first product in 2009 and today has become the leading innovator and the largest contributor in the Hadoop software community.
Cloudera provides an enterprise data hub (EDH) software platform that enables organizations to store, process, and analyze enterprise data at faster speeds and lower costs. The platform helps companies get started with Hadoop and leverage the power of the cloud. Additionally, they also offer consulting services for web servers, distributed logging, message buses, search indexing, and databases and provides organizations with training for developers, administrators, and data analysts.
Cloudera operates on a hybrid open subscription software business model that allows customers the benefits of open source software along with access to premium features and support expected of enterprise grade software.
Thus, the basic application can be deployed for free, and it comes with features such as access to Cloudera’s platform, service management, host monitoring, security management, diagnostics, and access to APIs. Premium versions are available at an annual subscription and come with additional features such as rolling updates, additional system integrations, configuration history and rollback capabilities, and premium level support for Cloudera Search, Hadoop, and Director.
They have successfully built an ecosystem of over 1,300 partners that helps deliver their products to more than 460 global enterprise and public sector customers to integrate Hadoop into the customer’s existing data management infrastructure. Their customer list includes names such as MasterCard, Allstate, and Qualcomm.
Cloudera does not disclose their financials. The limited insight that they provide reveals that for fiscal 2015, Cloudera’s unaudited revenues were in excess of $100 million of which two-thirds were contributed by software licenses.
They have been venture funded so far with $1.2 billion in funding from investors including Intel Capital, Google Ventures, T. Rowe Price, Accel Partners, Ignition Partners, Greylock Partners, Meritech Capital Partners, In-Q-Tel, Caterina Fake, Youssri Helmy, Diane Greene, Qi Lu, and Jeff Weiner. Their last round of funding was held in March 2014 when they raised $900 million from Intel Capital at a valuation of $4.1 billion. Prior to that, they had raised $160 million at a valuation of $1.8 billion. That was a significant increase from the December 2012 valuation of $700 million.
Cloudera is yet to confirm their plans on going public. As of now, they claim that they have enough cash to reinvest in growth and going public may not be such a priority.
More investigation and analysis of Unicorn companies can be found in my latest Entrepreneur Journeys book, Billion Dollar Unicorns. Unicorns will also be discussed with some special guests during our 1M/1M Roundtable programs over the next few weeks. To be a part of the conversation, please register here. The term Unicorn was coined in a TechCrunch article by Aileen Lee of Cowboy Ventures.
This segment is a part in the series : Billion Dollar Unicorns
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