Total amount raised
$264 Millions
Latest funding date
1/1/2022
Location
Firebolt has strategically secured funding to enhance its data warehouse platform, designed for data-intensive and AI applications. The platform's architecture emphasizes speed, scalability, and efficiency, catering to modern data and AI needs.
Continue reading to delve into Firebolt's funding journey and discover the investors supporting this innovative data warehouse solution.
What Is Firebolt?
Firebolt, founded in 2019, is a company that provides a high-performance data warehouse solution designed for modern data and AI applications. The company is headquartered in Tel Aviv, Israel.
Firebolt's data warehouse delivers sub-second query performance, elastic scaling, and seamless integration with modern data stacks. It is optimized for both structured and semi-structured data, supporting AI and data-intensive applications.
The company was founded by Eldad Farkash and Saar Bitner. Firebolt has grown rapidly, now employing over 100 people.
How Much Funding Has Firebolt Raised?
- Series A
- Amount Raised: $37M
- Date: December 2020
- Lead Investors: Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's initial growth and development as it emerged from stealth mode.
- Series B
- Amount Raised: $127M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and scale Firebolt's cloud data warehouse technology.
- Series C
- Amount Raised: $100M
- Date: January 26, 2022
- Lead Investors: Alkeon Capital
- Valuation at Round: $1.4 billion
- Motivation Behind the Round: To expand product and engineering teams to meet the growing demand for analytics-enabled products.
Total amount raised: $264M. Current valuation: $1.4 billion.
Key Investors
- Alkeon Capital
- Details: Alkeon Capital is a global investment firm that invests in private and public growth and technology companies. They focus on people and innovation, helping companies expand their market, scale efficiently, and transition to public markets.
- Investment Focus Areas: Technology, growth-stage companies, innovation.
- Notable Investments: Stripe, Robinhood, UiPath.
- Zeev Ventures
- Details: Zeev Ventures is an early-stage venture capital firm that invests in technology companies. They have a strong track record of supporting startups from inception through growth stages.
- Investment Focus Areas: Early-stage technology companies, innovation, growth.
- Notable Investments: Houzz, Tipalti, TripActions.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early to growth-stage technology companies. They have a diverse portfolio and a history of successful investments.
- Investment Focus Areas: Technology, early-stage companies, growth-stage companies.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Dawn Capital
- Details: Dawn Capital is a venture capital firm that specializes in B2B software and fintech companies. They focus on supporting companies that drive innovation in their sectors.
- Investment Focus Areas: B2B software, fintech, innovation.
- Notable Investments: iZettle, Mimecast, Collibra.
- TLV Partners
- Details: TLV Partners is a venture capital firm that invests in early-stage technology companies. They are known for their hands-on approach and strong support for their portfolio companies.
- Investment Focus Areas: Early-stage technology companies, innovation, growth.
- Notable Investments: Next Insurance, Aqua Security, Guardicore.
What's Next for Firebolt?
Firebolt stands at the cusp of a significant opportunity, poised to revolutionize the cloud data warehouse market. With the global cloud analytics market projected to reach $65 billion by 2025, Firebolt's high-performance technology is well-positioned to capture a substantial share. The company's focus on delivering sub-second analytics and scalable solutions addresses the growing demand for efficient data management in modern applications.
Future fundraising seems promising, given the strong investor interest and the oversubscribed Series C round. This financial backing will likely fuel further expansion and technological advancements. However, Firebolt will need to navigate challenges such as intense competition from established players like Google BigQuery and Snowflake, and the complexities of scaling operations while maintaining performance. Balancing innovation with operational efficiency will be crucial as Firebolt continues its growth trajectory.
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