Capital raised from Bpifrance, Iris Capital and existing investors will fuel accelerated investments and development in big data
Talend, the global big data integration software leader, today announced the completion of a $40 million funding from Bpifrance and Iris Capital with participation from existing investors Silver Lake Sumeru, Balderton Capital and Idinvest Partners. Talend will use the investment to accelerate innovation, augment its portfolio and support its go-to-market efforts in the big data space and other leading edge domains for enterprise IT.
The market for big data and Hadoop-related technologies is experiencing a tipping point. According to research firm IDC, spending on big data technologies and services will grow by 30 percent in 2014, surpassing $14 billion. However, as demand for big data skills continues to outstrip supply, organizations looking at innovative use cases to increase revenue, maximize retention or optimize operations are still facing significant adoption and deployment challenges.
“Our advantage is simple. The ability of Talend's solutions to evolve within a quickly changing technology landscape enables organizations to remove barriers to the adoption of modern data platforms such as NoSQL or Hadoop,” said Bertrand Diard, co-founder and chief strategy officer of Talend. "With our unique architecture and scalable platform, Talend helps companies of all sizes obtain a fast return on their data assets, regardless of how they need to use them.”
“Talend is in a unique position to serve the fast growing big data market,” said Mike Tuchen, CEO of Talend. “Our customers are often confronted with the limits of legacy integration platforms that are unable to deal with new challenges created by the explosion of data, the ubiquity of hybrid cloud architectures and the ever growing expectations from the business. Talend’s agile and open model puts us in a unique position to quickly deliver innovative and powerful solutions to address these needs.”
Talend provides customers with market-leading solutions that allow them to accelerate the time-to-value of any integration project through a simplified process and to ensure the consistency of integration processes across projects and integration styles. Setting itself apart as the only integration solution running natively inside Hadoop, Talend for Big Data leverages the power of open source-driven innovation to deliver unmatched support of the latest variations of big data platforms such as Hadoop 2.0/YARN and NoSQL.
Thierry Sommelet, Senior Investment Director at Bpifrance, commented: “Thanks to the quality of their solutions, coupled to an enterprise open source model, Talend has acquired an impressive customer portfolio and competes successfully against established players. We are very happy to join the existing investors to continue and accelerate the growth of the company in the global market.”
“The increasing usage of big data is leading enterprises to rethink how they manage data,” said John Brennan, Managing Director of Silver Lake Sumeru. “The market is primed for Talend’s integration technology and approach. They have a unique combination: innovative products, a terrific team, an enthusiastic community, an enviable list of enterprise customers and enormous market potential. We are proud to have supported them in the past three years and look forward to continue building one of the truly great companies in the big data space.”
As part of this investment, Bpifrance will join Talend’s Board of Directors.
Since January 2013, Bpifrance, the French public investment bank, brings together the financing activities of OSEO (innovation, guarantee, credit) and the equity investments activities led by FSI, FSI Régions and CDC Entreprises. Its ambition is to help businesses, ranging from start-ups to medium-sized companies and occasionally large companies, to innovate, invest, grow and export. Bpifrance, by sharing the risks with its private and public partners, provides a continuum of financing, from short-term credits to equity capital that meets the needs relating to each stage of businesses life cycle. www.bpifrance.fr
About Iris Capital
Iris Capital is a pan-European venture capital fund manager specializing in digital economy. Since its inception in 1986, the Iris Capital team has invested more than €900 million in more than 200 companies. Iris Capital targets opportunities in service or technology companies, seeking growth capital in order to realize their strategy. It provides active support to its portfolio companies on the basis of its strong sector specialization and experience, and has offices in Paris, Düsseldorf, San Francisco, Montreal, Riyadh, Dubai, Beijing and Tokyo. In 2012 Iris Capital has entered into a strategic partnership with Orange and Publicis to manage their joint venture capital initiative. www.iriscapital.com