Total amount raised
$33 Millions
Latest funding date
2/1/2023
Location
Onehouse has successfully raised $35 million in its latest Series B funding round, attracting notable investors such as Craft Ventures and Addition. The company offers a universal data lakehouse platform designed to provide fast, open, and cost-effective data management solutions.
Keep reading to explore the intricacies of Onehouse's fundraising journey and the investors backing this innovative platform.
What Is Onehouse?
Founded in 2021, Onehouse is a cloud-native managed lakehouse service based in Menlo Park, California. The company aims to improve data lake time-to-value by combining the ease of use of a warehouse with the scale of a data lake.
Onehouse was founded by Vinoth Chandar, who is also the creator of Apache Hudi. The platform allows users to build their data lake quickly, process data efficiently, and maintain ownership of their data in open formats.
With a team of 51-100 employees, Onehouse continues to innovate in the data management space, offering solutions that emphasize fast data ingestion, incremental data transformations, and intelligent optimizations.
How Much Funding Has Onehouse Raised?
- Seed Round
- Amount Raised: $8M
- Date: February 2022
- Lead Investors: Addition, Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the business model.
- Series A
- Amount Raised: $25M
- Date: February 2023
- Lead Investors: Addition, Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the initial product, expand the team, and increase market reach.
- Series B
- Amount Raised: $35M
- Date: June 2024
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and the development of the Onehouse Compute Runtime.
Total amount raised: $68M. Current valuation: Not publicly disclosed.
Key Investors
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that invests in early-stage and growth-stage companies. The firm is known for its hands-on approach and deep operational expertise.
- Investment Focus Areas: Technology, SaaS, consumer internet.
- Notable Investments: Airbnb, SpaceX, Slack.
- Addition
- Details: Addition is a venture capital firm that focuses on investing in technology companies. The firm aims to support companies that have the potential to disrupt their industries.
- Investment Focus Areas: Technology, fintech, healthcare.
- Notable Investments: Stripe, Robinhood, Coinbase.
- Greylock Partners
- Details: Greylock Partners is a venture capital firm that invests in early-stage companies, particularly in the technology sector. The firm has a long history of backing successful startups.
- Investment Focus Areas: Enterprise software, consumer internet, healthcare.
- Notable Investments: Facebook, LinkedIn, Airbnb.
What's Next for Onehouse?
Onehouse is poised to capitalize on the growing demand for data lakehouse technology. With $35 million in Series B funding, the company plans to expand its Universal Data Lakehouse platform and enhance Apache Hudi with new features. The launch of products like Onehouse LakeView and Onehouse Table Optimizer aims to improve performance and reduce costs, opening up significant market opportunities.
Future fundraising seems likely as Onehouse continues to innovate and expand. However, challenges such as competition from other data lake formats and ensuring seamless interoperability remain. Maintaining strong partnerships with tech giants like Microsoft and Google will be crucial for sustained growth.
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