Hadoop vendor MapR raises another $50M as it sets its sights on IPO
The use of #Hadoop -based open source big-data technology continues to grow among enterprises, and today #MapR Technologies, one of the bigger startups in the space, has announced another $50 million in funding to secure its place as a leading vendor and gear up for an IPO. The investment is being led by Future Fund — Australia’s sovereign wealth fund — and also includes participation from MapR’s existing investors #Google Capital (which led its last round of $110 million), Lightspeed Venture Partners, Mayfield Fund, New Enterprise Associates, #Qualcomm Ventures, and Redpoint Ventures. MapR is not disclosing its valuation, CEO and founder John Schroeder told me in an interview. “I’m having fun running a private company for a little bit longer,” he said. “But the valuation was driven around comparative valuations for companies like Splunk [which is currently valued at $8.44 billion].” By this, he means something broader than a straight Hadoop play. “It’s a broad platform” He also debunked the idea of how many companies do tout valuations without explaining what is behind them. “Many of the funding rounds have terms, and I could dial in any valuation I want with ratchets. Valuations can be very misleading,” he said, adding that the only thing more he would say about it is this: “Our cap table is in fantastic shape and way better than many other companies that went public recently, and employees will benefit from a future IPO because of that.