Funding Alert

Firebolt, a data warehouse firm, has raised $100 million at a valuation of $1.4 billion to enable faster and less expensive analyses on massive data sets


With a cloud data warehouse solution that it claims can conduct analytics on massive data sets cheaper and faster than its competitors, Israeli company Firebolt has been taking on Google’s BigQuery, Snowflake, and others. It is now announcing a large round of funding to support its big data expansion: On a $1.4 billion value, Firebolt has received $100 million in a Series C investment. 

To address what it feels are changing tides in the field of data warehousing, it wants to use the funds to continue investing in its technological stack, step up with additional business development, and hire more expertise for its staff.

Firebolt, a data warehouse firm, has raised $100 million at a valuation of $1.4 billion

When it comes to how they handle their data, Firebolt’s customers — which include big tech companies, business intelligence firms, and any customer-facing business that needs to parse a lot of data to serve information to users in real time and run back-end data applications — typically use multiple vendors. “Right now, they’re seeking for new solutions to drive new use cases,” Firebolt CEO Eldad Farkash said.

Snowflake and other incumbents play an important role, but Firebolt has been stepping in as new use cases and cracks emerge. “We rarely see people not liking Snowflake. In a room, they will never say we want to replace it. It’s unique and shows how much it means to them. But everything is changing, and their challenges are growing, and they can’t just keep one thing standing. They need options.”

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