Israel and USA based startup Firebolt raises USD 100 million in Series C

Firebolt, an Israel and US-based cloud data warehouse startup that offers efficient data analytics experience at any scale, has raised USD 100 million in a Series C round led by Alkeon Capital on 26 January 2022. The company has achieved a valuation of USD 1.4 billion.

Investors: Alkeon Capital led the latest funding round with participation from new backers Sozo Ventures and Glynn Capital. In addition, existing investors including Zeev Ventures, Angular Ventures, Dawn Capital, Bessemer Venture Partners, K5 Global and TLV Partners, also contributed to the round.

The Objectives behind the funding: The company plans to deploy the current proceeds to invest in its technology stack, step up with more business development, hire more talent for its team, and meet what it believes are changing tides in the world of data warehousing. 

With this new funding round, Firebolt has also announced the hiring of its CTO, Mosha Pasumansky, who was previously a principal engineer on Google’s BigQuery team, and the opening of its Seattle office.

About Firebolt

Founded in 2019 by Eldad Farkash, Saar Bitner and Ariel Yaroshevich, Firebolt has built a cloud data warehouse that offers efficient data analytics experience at any scale. Its data warehouse combines the high-performance database architecture with the infinite scale of the data lake. It leverages the technology stack and recent academic research in the big data space, enabling analysts, employees, and end customers to gain the insights they need without waiting for the results or worrying about costs. The company currently has 200 employees across 25 countries. The startup emerged from stealth mode only 13 months ago. 

What the Founder has to say:

“Data is at the core of every app today,” said Firebolt Co-founder and CEO Eldad Farkash. “This means that software engineers need to increasingly become experts in data. We see the role of the data warehouse as the foundation on top of which companies build a multitude of analytic experiences. Our purpose is to push the boundaries of what can be done with analytics and allow companies to leverage data into previously unreachable territories.” 

What the Investor has to say:

“We are extremely excited to partner with the world-class team at Firebolt to further support their incredible growth,” said Abhi Arun, managing partner at Alkeon Capital, in a statement. “We’re seeing a shift in the market where every modern app today requires a performant and scalable data infrastructure, and we believe that Firebolt is perfectly positioned to lead this segment of the market and become the cloud data warehouse of choice for modern data engineering and dev teams building interactive analytics experiences at scale.”

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