Next-Gen Data Analytics Startup Imply Data Raises $100M
Company looks to expand its market reach with its Apache Druid-based software for developing real-time analytical applications.
Real-time data analytics startup Imply Data has raised $100 million in a Series D round of funding that brings the company’s total financing to $215 million, the company said Tuesday.
Imply, whose platform is targeted toward analytical application developers, said in a statement that the additional funding will help it “accelerate its mission to help developers become the new heroes of analytics.”
The investment round was led by Thoma Bravo with participation from OMERS growth equity, both new investors. Earlier investors Bessemer Venture Funds, Andreessen Horowitz and Khosla Ventures also participated in the funding round.
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Imply, based in the Burlingame, Calif., raised $70 million in a Series C funding round in June 2021.
Imply was founded in 2015 by the developers of Apache Druid, an open-source analytical database that serves as the underlying technology for Imply’s flagship Imply Enterprise database. The company positions its software as an alternative to batch-oriented data warehouse systems and the static dashboards and reports they produce.
“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,” said Imply co-founder and CEO Fangjin “FJ” Yang in a statement announcing the funding.
“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,” said Robert (Tre) Sayle, a partner at Thoma Bravo, in the statement.
Imply debuted an expanded product line in March that included Imply Polaris, a fully managed database cloud service for building and deploying analytical applications. Polaris, also based on Apache Druid, utilizes the Confluent Cloud real time data/event streaming service on the back end. Imply also offered a preview of a new multi-stage query engine that works with Polaris.
“As analytics adoption continues to accelerate, software developers are demanding more real-time solutions with Apache Druid and Imply leading the category,” said Warda Shaheen, co-head of software at OMERS Growth Equity, in a statement. “We’re thrilled to partner with FJ and the pioneering team of inventors at Imply as they continue to build on their category leadership by driving innovation and expanding analytics use cases.”