This financing is a strong validation of our vision and underlines the remarkable Datometry story. It all started with the realization that enterprises face enormous challenges when moving to public cloud. Specifically, replatforming the enterprise data warehouse to a cloud-native solution is what makes or breaks the career of IT leaders. The stakes are high, yet, the odds for a successful migration are abysmally low. That’s where we saw an opening in the market long before just about anybody else.
We took the core principles of virtualization and brought them to databases. Think of it as a new kind of hypervisor: existing applications run directly on a modern cloud data warehouse without changing SQL. Put differently, Datometry provides instant interoperability. What has been an insurmountable problem in the past, has a simple solution now.
This has truly far-reaching consequences for the database market in general. Literally every Global 2000 enterprise has to solve this very problem in the next 48 months. And now, literally every Global 2000 enterprise can overcome this problem using our technology. There is hardly any better market dynamics a startup could wish for.
The idea behind Datometry is strikingly simple. However, like with all great inventions, the implementation is another thing entirely. This kind of advanced technology required significant investments and years of research. Our success was only possible because of an outstanding engineering team of industry veterans and researchers.
We are fortunate to have found an equally outstanding and determined team of investors. From our first board member Amarjit Gill to Redline Capital, Dell Tech Capital and Acorn Pacific. We’re excited that WRVI Capital led our Series B and welcome Sriram Viswanathan to our Board of Directors.
Sriram and team understand the massive opportunity of cracking the vendor lock-in on the database market. They also understand, Datometry is not running on hype and buzzwords. Instead, we’re solving some of the toughest engineering challenges while working with the most iconic brands of the Fortune 500. This isn’t for the faint of heart. As a leader, I’m incredibly grateful to have this caliber of folks in our corner.
This latest round of funding comes at a time where the market is moving full steam to cloud data warehousing. And replatforming has become the #1 issue. Datometry shaves over $10 billion off the overall replatforming cost, just for Enterprise Data Warehouses alone. For customers, that’s $10 billion in barrier to entrance. For cloud vendors, that’s $10 billion in customer acquisition cost.
At Datometry, we’ll use the new funds to accelerate the joint go-to-market with our partners Amazon Web Services, Microsoft Azure Cloud, Google Cloud Platform as well as select System Integrators. Our deeper integration with their offers gives enterprises powerful means to solve one of the toughest challenges the enterprise faces in the next 10 years.
So, if you are an IT leader tasked with replatforming your Teradata data warehouse to a cloud-native solution, ask your cloud vendor about Datometry. Reference this blog post to see if you qualify for a fully funded assessment and analysis of your current system.
Onward and upward!