There are not many Israeli companies that can claim to be in direct competition with Amazon, Google and Snowflake. One of the few is the cloud storage company a href = “https://firebolt.io/” target = “new”> Firebolt, which today announced the completion of the $ 127 million B-series funding round, just over two years after it was founded.
Prior to the current round of funding, Firebolt raised $ 37 million. The current round of financing was from new investors Dawn Capital and K5 Global with the participation of previous investors Zeev Ventures, TLV Partners, Bessemer Venture Partners and Angular Ventures.
Firebolt was founded by CEO Eldad Farkash who also founded the business analytics company Sisense, which is now unambiguous, and CEO Saar Bitner and Ariel Yershovitz, who no longer work for the company, both members of the Sisense founding team.
Firebolt has 100 employees, including 45 in Israel, and the rest in offices in Munich, London, Dublin, Kiev and Cluj. The company is in the process of establishing a U.S. headquarters in San Francisco.
Firebolt has built a new type of cloud data warehouse, which it claims analyzes data more efficiently and more cheaply, as a result of the experiences of the founders at Sisense where they were dissatisfied with the results of the tools at their disposal. Thus, Firebolt has developed technology that improves the speed of data analysis and more efficiently takes advantage of hardware, allowing them to analyze larger amounts of data using less cloud computing power and thus reduce costs.
Farkas says Firebolt’s strategy did not ask customers to leave the data warehouses in the cloud of technology giants, but to gradually switch uses, especially data that requires faster analysis.
Posted by Globes, business news in Israel – en.globes.co.il – June 24, 2021
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