Israeli startup Varada raises $12 million in Series A

The startup that deals with big data is preparing to announce the general availability of its data virtualization platform. The company raised $7.5 million in a seed round in early 2019

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Israeli startup Varada announced last week that it closed a $12 million Series A round of funding, which was led by MizMaa Ventures, a venture capital firm investing in Israeli technology startups, with participation by Gefen Capital and the company's existing investors who invested $7.5 million in Varada in early 2019. 

The company also said that it is preparing to announce the general availability of its data virtualization platform, which is aimed at establishing a new standard for accelerating big data workloads while optimizing control over performance and cost.

Aaron Applbaum, a partner at MizMaa, said “In a world where every organization wants to be data-driven and data sources are growing exponentially in both volume and complexity, Data Virtualization and Data Lake technologies will be at the core strategy of any organization over the next 5 to 10 years.” He added that “Varada disrupts this space with its unique and innovative indexing-based technology.”

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