Square Peg Capital leads round to accelerate go-to-market efforts
New York, NY – June 9, 2015 — Jethro, provider of the fastest SQL-on-Hadoop solution in the market, today announced that it has closed an $8.1 million Series B financing round led by Square Peg Capital, and including existing investor Pitango Venture Capital. This latest funding round will be used to increase investment in sales, marketing and development of Jethro’s unique technology.
“Eli and the amazing team at Jethro are bringing a revolutionary technology to enterprises. Hadoop users have gained great scale and cost effective storage, largely at the expense of performance. With Jethro, enterprises quickly see improved performance, making Hadoop a viable enterprise infrastructure,” said Arad Naveh, partner with Square Peg Capital. “There is a huge market opportunity for interactive BI and fast SQL-on-Hadoop. We are proud to back Jethro and the company’s breakthrough solution.”
This funding round follows closely on the heels of the general availability of Jethro’s unique SQL-on-Hadoop software, which uses indexes to query data up to 100 times faster than alternative SQL on Hadoop solutions. Jethro works with popular business intelligence (BI) solutions, including Qlik, Tableau and MicroStrategy, to enable faster access to data and allow for true interactive BI.
“Business intelligence is still hampered in the big data world by slow access to Hadoop data. Jethro solves that issue, allowing BI on big data at a speed that users currently experience with their EDW systems,” said Eli Singer, co-founder and CEO, Jethro. “Jethro is empowering enterprises to gain insights at the speed of business. With the support of Square Peg and Pitango, we’re bringing interactive BI on big data to the enterprise.”
Jethro combines search engine indexing technology with modern column store database design to create a single solution. The resulting product addresses the growing business demand for storing vast amounts of data while providing lightning-fast queries. Jethro’s breakthrough full-indexing technology enables BI users to enjoy interactive responses with big data. Jethro works seamlessly with any BI tool through a standard ODBC/JDBC interface, and is compatible with Hadoop distributions, including Cloudera, Hortonworks, MapR and Amazon.
“Our query performance on big data residing in Hadoop has improved dramatically since we started using Jethro,”said Slava Borodovsky, Senior Director of Business Intelligence at Fiverr and a Jethro customer since 2014. “This validates our initial belief that Jethro is the superior approach to other solutions we have tried. We are now implementing Jethro in our BI infrastructure to give us better insights into Fiverr users’ behavior.”