Enterprise software company MapR Technologies has raised $56m from existing investors in a funding round led by Lightspeed Venture Partners.
The company plans to use the money to continue its international expansion, particularly in Australia, Japan and South Korea and hopes to be breaking even at the end of 2018. The company is currently losing money.
MapR’s technology helps companies maintain and process large amounts of data.
It is said to be particularly useful as it has its own file system as opposed to a Java-based one.
Its other existing investors include Google private equity arm CapitalG, Mayfield, NEA, Qualcomm Ventures and Redpoint Partners.
American Express, SAP and United Healthcare are customers of the company.
Copyright FinTech Global 2017
