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To date, Cloudera, the San Francisco-based big-data software company has raised over $1 billion in funding; before it went public. Today, Ignitia takes a deeper look at what allowed this open source machine learning platform and optimized cloud analytics company to become one of Silicon Valley’s breakout unicorns.
Cloudera’s Co-founding Dream Team
The company was founded in 2008 when executives from Google (Christophe Brisciglia), Yahoo! Amr Awadallah), Facebook (Jeff Hammerbacher), and Oracle (Mike Olson) joined together to form, Cloudera. The team brought together a vast array of experience dealing with incredibly large data sets. The idea for Cloudera was to provide users with a scalable, flexible, integrated platform that would make managing rapidly increasing volumes and varieties of data easier. According to the company’s website, it is their aim to provide products that allow users to manipulate and analyze this data, while keeping the same data safe and protected.
Growing Products, Growing Customers
And by all measures, Cloudera has been quite successful at this. Along with expanding their product offerings – including an enormous emphasis on machine learning – Cloudera has also expanded is user-base as well. According to a company press release, the company claims to have added 132 new Global 8000 companies to its customer base in 2018 alone.
Large Investments and an IPO
After raising more than $1 billion in venture funding – including a 2014 Series F round of funding worth over $740 million – in April of 2017 the company also concluded its IPO. Less than a day after opening, Cloudera’s stock (CLDR) had risen more than 20%. Just last week as well, on the news that Cloudera had agreed to an all-stock merger of equals with its competitor Horntonworks, the stock again jumped by 25%. The combined equity of the two companies post merger is said to be valued at more than $5.1 billion.
And revenues also appear to be strong. According to the disclosure of its fourth quarter 2018 numbers, total fourth quarter revenue for the company saw a revenue of $103.5 million, representing a 42% increase over the same quarter year-over-year. Also over this same period, Cloudera saw subscription revenues rise by 50% year-over-year to $84.3 million.
An Optimistic CEO
All of this makes for an optimistic CEO. According to a statement, Cloudera CEO Tom Reilly asserts, “It was a year of considerable accomplishment for Cloudera and our team. In our first few quarters as a public company, we introduced six major product offerings, completed a strategic acquisition, and delivered significant technological innovations — with the open source community and also proprietary to our products. Most enterprises are just embarking on their digital transformation journeys. In a rapidly evolving and disruptive market, we believe the investments we’ve made have us well-positioned to lead them on that journey.”
Exactly what the future holds for Cloudera remains to bee seen, but if recent history is any indication, this Silicon Valley unicorn seems well positioned to remain a player in the big data space into the future.