Management of data in the cloud is a very complex job, and it often requires expensive engineering expertise. The data management start-up, Upsolver, wants to simply all of that so that that database administrators can handle it. This early age start-up raised a USD 13 million Series A funding recently.
The lead investor was Vertex Ventures US, while active participants were Wing Venture Capital and Jerusalem Venture Partners. With this investment, the total funding sums up to USD 17 million, as stated by the company.
Co-founder and CEO Ori Rafael says that when companies move their data to the cloud and store it in data lakes, it becomes very difficult to manage the data. The objective of Upsolver is to eliminate a lot of management tasks from the process and allow users to query the data using SQL, making the data a lot more accessible.
“The main criticism of data lakes over the years is they become data swamps. It’s very easy to store data there very cheaply, but making it [easy to query] and valuable is hard. For that, you need a lot of engineering, which turns the lake into a swamp. So we take the data that you put into a lake and make it easier to query, and we take the biggest disadvantage of using a lake, which is the complexity of doing that process, and we make that process easy,” Rafael explained.
In Sik Rhee, General Partner and Co-founder at Vertex Ventures US, said in a statement, “Upsolver succeeded in abstracting away the engineering complexity of data pipeline management so that enterprise customers can quickly solve their modern data challenges in real-time and at any scale without having to build another silo of expertise within the organization.”
With the existing strength of 22 employees spread across San Francisco, New York, and Israel, it plans to reach a count of 50 by the end of next year. Rafael and the co-founder sat together early on and wrote the company’s core values. They feel it will act as a baseline to commence the part of operations, hiring, and learning sessions of a diverse workforce.
“We had high revenue compared to the low number of employees with [sales] acceleration during COVID — that was our big trio,” Rafael said.
And we feel investors certainly recognized that.