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Cloudera raises USD 900 mln in financing
2014-04-01 08:59:00| Telecompaper Headlines
(Telecompaper) Enterprise data analytics company Cloudera has raised a total USD 900 million in new financing. This includes the previously-announced USD 160 million of funding from T. Rowe Price and three other public market investors, Google Ventures, and an affiliate of MSD Capital, the private investment arm of Michael Dell and his family, and a significant equity investment by Intel that gives Intel an 18 percent share of Cloudera. Intel and Cloudera earlier announced a collaboration on technology development but did not disclose the details of the equity invesment. Within the past year Cloudera brought to market its version of an enterprise data hub, a reference architecture based on Apache Hadoop surrounded with open source components. The new financing will allow it to accelerate growth, including through the collaboration agreement with Intel, further drive the enterprise adoption of and innovation in Hadoop, to which it is the largest open source contributor, and promote the enterprise data hub market. The US company plans geographic expansion into Europe, Asia and China through Intel's market presence. The financing is expected to close in the second quarter of 2014, subject to customary closing conditions.
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