Singtel Innov8, Harmony anchor Qubole's $25m Asian push
Singtel Innov8 and Harmony Partners have led a $25 million round of funding to support the Asia expansion of Qubole, a big data firm based in India and the US.
Existing investors Charles River Ventures, Lightspeed Venture Partners, Norwest Venture Partners and Institutional Venture Partners (IVP) also participated in the round, according to a release. Qubole plans to use the new capital to grow its presence in Asia, particularly India, Australia, and Singapore.
Qubole’s platform, Qubole Data Service, processes nearly one million terabytes of data per month for enterprise customers including Lyft, Samsung and Under Armour. The platform is cloud-agnostic, meaning it can operate across cloud service providers including Amazon Web Services, Microsoft Azure, and Oracle Cloud Infrastructure. Support for the Google Compute platform will be added soon.
Several major Asian web companies already use Qubole’s services, such as Indian ride-hailing app Ola and music-streaming service Saavn. The company expects continued strong growth in demand for big data in the region and already has a central office in Bangalore, with a sales office in Singapore.
“Qubole is now at a pivotal growth point. Our sales momentum and product innovation in the last year have propelled us to the next stage of our global expansion,” said Ashish Thusoo, CEO and co-founder of Qubole. “As big data market demands continue to grow and evolve, this strategic investment positions Qubole as the leader in helping enterprises around the world successfully meet their big data project goals.”
Qubole was founded in 2011 by Ashish Thusoo and Joydeep Sen Sarma, who built and ran Facebook’s data service before founding the company. Lightspeed and Charles River participated in Qubole’s $7 million Series A round in 2013, while Norwest led the $13 million Series B round in 2015. All three came back for the $30 million Series C round last year led by IVP.
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