Imply Data, a California-based provider of real-time analytics database, has raised $100m in a Series D financing round to take its valuation to $1.1bn.
The company was founded by the original creators of Apache Druid, which is a real-time database designed for powering modern analytics applications.
Imply Data’s Series D was led by Thoma Bravo. OMERS Growth Equity, another new investor like Thoma Bravo, also took part in the round.
The funding round also saw the participation of existing investors Bessemer Venture Funds, Khosla Ventures, and Andreessen Horowitz.
Imply Data’s database, which has been built from Apache Druid, is said to help develop the next generation of analytics applications. Using it, developers can build without constraints as the database is said to allow them create interactive data experiences on streaming and batch data with unlimited scale.
Earlier this year, Imply Data launched Imply Polaris, a fully-managed database-as-a-service (DBaaS) built from Apache Druid.
Using Polaris, developers get the ability to start with Druid in minutes and build hugely scalable and interactive analytics applications without requiring expertise or management overhead, claimed the company.
Imply Data CEO and co-founder and Apache Druid co-creator Fangjin Yang said: “In its early days, Druid was adopted for a set of use cases in a handful of industries. Today, developers have shown its applicability across all industries—and the use cases have expanded exponentially.
“It’s humbling to see how Apache Druid and Imply have been so instrumental in helping our customers create competitive advantages.”
Imply Data has taken its overall funding to $215m, which includes $70m secured in a Series C round in June 2021.
The company plans to use the proceeds from the Series D round to continue investing further in Polaris as well as in building the Druid community.
Thoma Bravo partner Robert (Tre) Sayle said: “We’re excited to lead Imply’s Series D. FJ and his team are at the cusp of a market evolution in analytics, opening up a whole new world of analytics use cases and economic value.
“It was clear from the beginning of our relationship that we would enjoy a strong partnership with management, and they very much appreciated the level of experience we bring to the table as software-specialist investors over the last 20 years.”
