Hortonworks raises $50 million; eyes growth

Summary:The U.S. enterprise software company raises funds from Tenaya, Dragoneer, Benchmark, Index and Yahoo.

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Hortonworks, the Palo Alto, Calif.-based enterprise software company driving the development of the open source Apache Hadoop framework, announced this morning that it raised $50 million.

The funds come from a number of Silicon Valley investors, including Tenaya Capital, Dragoneer Investment Group, Benchmark Capital, Index Ventures and Yahoo.

In a blog post, chief executive Rob Bearden wrote that the money demonstrates confidence in Hadoop's role as a core compeonent of the data architectures of corporate IT organizations.

"I could not be more excited about the opportunity in front of us," he wrote. "The market reception of our business model and strategy of ensuring 100 percent open source Apache Hadoop becomes an enterprise viable data platform is resonating strongly with the market."

Hortonworks has more than 100 customers to date, and partnerships with a number of large vendors, including Microsoft, Teradata and Rackspace.

The company plans to use the money to increase its global field operations and invest in engineering, important as the company prepares for the upcoming availability of Hadoop 2.0 and Apache Hadoop YARN, the next generation of the programming model MapReduce. Bearden wrote that the company plans to specifically focus on YARN-based initiatives, as well as security, data lifecycle management and streaming.

Topics: Open Source, Enterprise Software, Start-Ups

About

Andrew Nusca is a former writer-editor for ZDNet and contributor to CNET. He is also the former editor of SmartPlanet, ZDNet's sister site about innovation. He writes about business, technology and design now but used to cover finance, fashion and culture. He was an intern at Money, Men's Vogue, Popular Mechanics and the New York Daily Ne... Full Bio

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