In a $10 million Series B funding round, existing investors Rembrandt Ventures and True Ventures joined hands with a new investor, Bain Capital Ventures to further enhance Concurrent Inc.s growth story. With Cascadingthe big-data application-development markets favorite application-development-framework for big data applications, capturing the developer community, the second product that is gearing up to invade the big data market is Driven, positioned as the flagship offering from Concurrent.
What does Concurrent plan to do with the new funds?
Earlier in the week, Concurrent, headquartered at California, announced its recent fund acquisition of $10 million, with a focused mission to use the new funds in R & D efforts of its flagship product Driven, the industrys pioneer performance management tool for the data-oriented applications market. The company also plans to scale up its operations to accommodate a rapidly increasing customer base. Additionally, the company welcomes its newly appointed board members.
Concurrents primary technological edge is its ability to provision a development environment that meets the exact requirements of agile development and deployment of products in the Hadoop environment. In this environmentdata must be operationalized very quickly to aid the deployment and proper functioning of data products. Concurrent enables organizations to build, deploy, and manage data-centric applications within the existing business framework.
With the twin products, Cascading and Driven, Concurrent plans to continue leading the big data application-development infrastructure market Driven. This companys holistic philosophy may be to provide advanced infrastructure for new-technology driven, data applications. Concurrent has established several, important industry partnerships to make the data-centric product development process as described by Market Wired smarter, simpler, and faster.
Driven in control of app development performance management
Concurrent’s flagship product, Driven is reported to have addressed the core issues of enterprise-grade application development, and has succeeded in providing adequate control to organizations over their data product or applications. The technology and tools offered by Cascading Driven help organizations to achieve operational excellence in data application-management.
Cascading a caviar on de facto standards in big-data application development
Cascading, in a way, has set the standard for enterprise data application development in the open-source application infrastructure arena; and provides the appropriate framework for reusing the same data applications in disparate data-processing environments. It is the most widely used with more than 150,000-user downloads a month.
Concurrents present and future
While developing and nurturing these two products, Concurrent has managed to build strong partnerships with Hortonwork and some other technology companies. In another strategic move, the company has appointed Supreet Oberoi as vice president of field engineering, whose primary role would be to accelerate customer and product growth. Sail Desponded, managing director at Bain Capital Ventures, has joined Concurrents board of directors.
The company has been included in CRNs Big Data 100 in the Big Data Infrastructure Tools and Services and Emerging Big Data Vendors categories. SD Times editors have nominated Concurrent for the publications annual SD Times 100 in the Big Data and Business Intelligence category. Salil brings years of expertise in enterprise software and infrastructure, along with open source. For his prolific career as an investor, Salil was included on the Forbes Midas List for 2013 and 2014.
According to the Concurrent CEO Gary Nakamura, Our investors confidence in Concurrent and this latest round of funding supports our strategy and proven leadership in providing Big Data application infrastructure to enterprises. Recognizing the maturing needs of the enterprise and emergence of new technologies, we are giving organizations the application development tools and management products they need to deliver today and in the future. This funding will not only enable us to drive our R&D execution, but will also allow us to expand operational capabilities to support our rapidly expanding user and customer base.
