MapR Technologies closes $110 million financing led by Google Capital

NEW DELHI: US-based IT firm MapR Technologies today said it has completed a US $ 110 million financing (over Rs 660 crore), led by Google Capital, which will be used to expand its big data and analytics capabilities.

The round of funding, which saw Google Capital investing US $ 80 million, also saw participation from Qualcomm Ventures. Existing investors Lightspeed Venture Partners, Mayfield Fund, NEA and Redpoint Ventures also participated in this round, MapR said in a statement.

In addition to the equity financing, MapR has also completed a debt facility of US $ 30 million, led by Silicon Valley Bank, it added.

"We led this round of funding because we believe MapR has a great solution for enterprise customers, and they've built a strong and growing business," Google Capital General Partner Gene Frantz said. He will also join the board of directors at MapR. "It is extremely gratifying to bring these high-calibre strategic investors on board, including Qualcomm, to help us accelerate growth and position the company for global leadership," MapR Technologies CEO and co-founder John Schroeder said.

Besides big data and analytics, the new funding will increase global go-to-market programs to accelerate the deployment of MapR in mission-critical, real-time, and operational use cases, it said. MapR has clients across financial services, healthcare, media, retail and telecommunications firms.