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Continuuity Raises $10 Million Series A Round to Ignite Big Data Application Development Within the Hadoop Ecosystem
Battery Ventures and Ignition Partners Lead Round
By: Marketwired .
Nov. 14, 2012 07:05 AM
PALO ALTO, CA -- (Marketwire) -- 11/14/12 -- Continuuity, the industry's first Big Data application platform, today announced a $10 million Series A funding round. Battery Ventures and Ignition Partners led the round, and were joined by returning and new investors Andreessen Horowitz, Data Collective and Amplify Partners. The company will use the funds to accelerate product development and drive its go-to-market strategy. Continuuity's board of directors will include Roger Lee from Battery Ventures, Cameron Myhrvold from Ignition Partners, along with company co-founders Todd Papaioannou and Jonathan Gray. The Continuuity leadership team and board of directors have helped build multiple industry-leading companies, including Greenplum, Corio and Dynamical Systems, as well as having served in critical strategic roles at Teradata, Yahoo!, Facebook and Microsoft.
Continuuity recently emerged from stealth to introduce the industry's first Big Data application hosting platform, the Continuuity AppFabric, at O'Reilly Strata + Hadoop World in October 2012. Delivered as a cloud platform, the company's flagship product harnesses the full power of the Hadoop ecosystem, allowing developers to rapidly deploy, scale and manage Big Data applications both in and outside of the firewall.
"Continuuity is poised to disrupt the market by merging Big Data and cloud to introduce a new application development opportunity for all developers," said Mike Dauber, Principal at Battery Ventures. "We're excited to co-lead the Series A round for Continuuity, and we join the company in its mission to become the center of gravity for the Big Data application development ecosystem."
"With the surge of Big Data over the past few years, it's no surprise companies are striving to derive value from the ever growing amount of data. New kinds of Big Data applications that are able to pull meaning from data at scale will enable them to do this," said Cameron Myhrvold, Founding Partner at Ignition Partners. "Continuuity is making it possible for the existing legions of application developers to invent and deploy such apps. At Ignition Partners, it's our pleasure to have the opportunity to invest in bringing Continuuity's vision to market."
Continuuity empowers developers to turn big ideas into Big Data applications. With a fully integrated developer experience, Continuuity supports application development from prototype to production. The Continuuity Developer Suite includes an SDK, development tools and a fully-featured, single-node version of the Continuuity AppFabric to create and iterate on applications quickly. When ready, developers deploy applications with the click of a button -- directly to a remote instance of the Continuuity AppFabric, which is available today on a per-customer basis in an on-premise or managed private cloud edition, and in the future a public cloud edition.
"We are honored to have the industry's top-tier venture capitalists join us in our mission to democratize Big Data application development," said Todd Papaioannou, co-founder and CEO at Continuuity. "Built by developers for developers, we believe the Continuuity AppFabric is going to ignite the new wave of Big Data application development and experimentation. Our team members have been instrumental in shaping Big Data infrastructures and applications at companies that pioneered the technology. Now we're taking that deep expertise to put a next generation platform and tools in the hands of developers, entrepreneurs and enterprises."
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