Cloud data warehouse Firebolt raised $127 million


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There are not many Israeli companies that can claim to be in direct competition with Amazon, Google and Snowflake. One of the few companies is cloud data storage company Firebolt, which today announced the completion of a $127 million Series B funding round, just over two years after it was founded. Prior to the current funding round, Firebolt raised $37 million. The current funding round was from new investors Dawn Capital and K5 Global, with participation from previous investors Zeev Ventures, TLV Partners, Bessemer Venture Partners and Angular Ventures. Related Articles Cloud data warehouse company Firebolt raises $37 million Founded by CEO Eldad Farkash who also founded business analytics firm Sisense, which is today a unicorn, and COOs Saar Bitner and Ariel Yershovitz, who are no longer with the company, both members On the founding team of Sisense. 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 our headquarters in San Francisco. Firebolt has created a new type of cloud data repository, which it claims analyzes data more efficiently and cheaply, and this is a result of Sisense founders’ experiences where they were unhappy with the results of the tools available to them. So at Firebolt, they’ve developed technology that improves the speed of data analysis and makes use of hardware more efficiently, allowing them to analyze larger amounts of data using less cloud computing power and thus lower costs. Farkash says Firebolt’s strategy has not been to ask customers to leave the tech giants’ cloud data warehouses, but rather to gradually change usage, particularly for data that requires faster analysis. Published by Globes, Israel business news – en.globes.co.il – on June 24, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021


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