SAN FRANCISCO (Reuters) - Cloudera, a distributor of software that helps companies analyze big data, said it has raised $65 million in new funding.
The company is part of a growing group of businesses that help dig into the vast trove of data created by digital sources such as sensors, posts to the Internet, pictures and videos.
The field caught investor attention when Splunk, another data analytics firm, held an initial public offering earlier this year and doubled in price on its first trading day.
Cloudera’s business is based on Hadoop, open-source software that aggregates results from large sets of data. Cloudera provides services that allow companies to easily use Hadoop.
The funding round was led by Accel Partners, with participation from Greylock Partners, Ignition Partners, In-Q-Tel and Meritech Capital Partners. All Things D, which first reported the funding, said the company’s valuation was $700 million.
Cloudera, based in Palo Alto, California, last raised $40 million in November 2011.
Reporting By Sarah McBride; Editing by Edmund Klamann