Firebolt is now announcing a big round of funding to expand its own business. The company, which has built a new type of cloud data warehouse, is promising to architect much more efficient and cheaper big data analytics around whatever is stored within it, and the firm has announced a major Series B of $127 million on the heels as there is a considerable demand for its services.
Firebolt has set out to tackle major data warehousing problems that have become a fundamental way for enterprises to analyze, update, and manage their big data stores. Typically, data warehousing solutions are inefficient, and they can cost a lot of money to maintain. The company has set out to fix this issue by taking a different approach, re-architecting the concept.
The company says the concept is gaining a lot of traction as many engineers and developers in industries are moving towards business intelligence, customer-facing services that need to parse a lot of information to serve users in real-time and back-end data applications. That is proving out to be a shift before the startup even launched, stealthily or otherwise.