Ahana Raises $20M for Presto Database Amid Cloud Analytics Boom
Ahana, a San Mateo, California-based provider of cloud data lake services, has recently announced that it has raised $20 million in a series A funding round led by Third Point Ventures [1]. This funding will be used to expand Ahana’s platform and further develop its Presto database, which is gaining significant traction in the cloud analytics market.
Presto is an open-source distributed SQL query engine designed for big data analytics. It allows users to query data from various sources, including data lakes, data warehouses, and streaming platforms, in real-time. With its ability to handle large volumes of data and deliver fast query performance, Presto has become increasingly popular among organizations looking to unlock the value of their data [1].
Ahana’s cloud data lake services provide a managed solution for deploying and operating Presto on popular cloud platforms such as Amazon Web Services (AWS) and Google Cloud Platform (GCP). By offering a simplified and scalable approach to deploying Presto, Ahana enables organizations to quickly set up and leverage the power of Presto without the need for extensive infrastructure management [1].
The $20 million series A funding round, led by Third Point Ventures with participation from other investors, demonstrates the growing interest and confidence in Ahana’s vision and technology [1]. This funding will enable Ahana to accelerate its product development efforts and expand its customer base.
Transforming Open Data Lake Analytics
Ahana’s mission is to redefine open data lake analytics by making it more accessible and efficient. With the increasing volume and variety of data being generated, organizations are seeking ways to analyze and derive insights from their data lakes effectively. Ahana’s platform simplifies the process of querying and analyzing data in data lakes, enabling organizations to unlock the full potential of their data assets [2].
By leveraging Presto’s capabilities, Ahana enables data platform teams to deliver powerful SQL processing on all their data, regardless of its location or format [5]. This empowers organizations to perform complex analytics and gain valuable insights from their data lakes, leading to better decision-making and business outcomes.
Expanding the Platform and Market Reach
With the $20 million series A funding, Ahana plans to expand its platform and enhance its offerings to meet the evolving needs of its customers. The funding will support the development of new features and functionalities that will further simplify the deployment and management of Presto [1].
Additionally, Ahana aims to expand its market reach by strengthening its partnerships with cloud providers and data integration platforms. By collaborating with industry leaders, Ahana can ensure seamless integration with existing data infrastructure and provide a comprehensive solution for organizations looking to leverage Presto for their analytics needs [2].
Meeting the Growing Demand for Cloud Analytics
The cloud analytics market is experiencing significant growth as organizations increasingly rely on cloud-based solutions for their data analytics needs. With its ability to handle large-scale data processing and deliver real-time insights, Presto has emerged as a leading choice for organizations looking to harness the power of their data [4].
Ahana’s cloud data lake services, coupled with its expertise in Presto, position the company well to capitalize on this growing market demand. By providing a managed solution for deploying and operating Presto, Ahana eliminates the complexities associated with setting up and managing infrastructure, allowing organizations to focus on extracting value from their data [1].
Conclusion
Ahana’s recent $20 million series A funding round marks a significant milestone for the company as it continues to redefine open data lake analytics with its Presto database. With the funding, Ahana plans to expand its platform, enhance its offerings, and strengthen its partnerships to meet the growing demand for cloud analytics solutions. As organizations increasingly recognize the value of their data, Ahana’s cloud data lake services and expertise in Presto position it well to capitalize on the evolving analytics landscape.
