Varada, an Israel based data virtualization platform, has raised a $12 million Series A round of funding led by MizMaa Ventures with participation by Gefen Capital. The round also included participation from existing investors Lightspeed, StageOne Ventures and F2 Venture Capital who contributed in early 2019 to a $7.5 million seed round, according to a release.
Varada is said to be seeking to establish a new standard for accelerating big data workloads while optimizing control over performance and cost.
Aaron Applbaum, partner at MizMaa, said that Varada disrupts the space with a unique and innovative indexing-based technology.
Eran Vanounou, CEO of Varada, said his company is solving one of the biggest headaches regarding data structure while providing an econcomic tool to turn the data into value:
“I know this problem firsthand, as I was the CTO of LivePerson before joining Varada. When I met the founding team, I was blown away at their vision for how to solve one of the thorniest problems in big data. The platform we’re building enables revolutionary ease-of-use, fast time-to-market and cost control. This round of Series A funding will accelerate the progress of our solution and allow us to quickly scale our plans to deliver the new standard for data virtualization.”
Varada says it is building a platform to revolutionize data virtualization.