Big data software specialist Talend announced that it has received $40 million in funding to bolster its efforts in the big data industry. This investment comes largely from Iris Capital and Bpifrance, however, existing investors like Silver Lake Sumeru, Balderton Capital (News - Alert) and Idinvest Partners also participated. Talend claims that it will use this investment to accelerate its own innovation strategies, create a more diverse portfolio, and directly support market efforts.
So, why Talend as opposed to any other big-data company?
Bertrand Diard, co-founder and chief strategy officer of Talend, argues, “Our advantage is simple. The ability of Talend's solutions to evolve [...] enables organizations to remove barriers to the adoption of modern data platforms such as NoSQL or Hadoop.”
CEO Mike Tuchen adds that “Talend is in a unique position to serve the fast growing big data market, [because] customers are often confronted with the limits of legacy integration platforms that are unable to deal with new challenges created by the explosion of data. Talend's agile and open model [...] deliver[s] innovative and powerful solutions to address these needs.”
Big data is increasingly important to the business world because it allows for more accurate analyses and confident decision making. With more and more information available to companies, they need a way not only to sort this data, but to interpret it quickly and easily. Big data allows companies to collect high volumes of data at rapid-fire speeds in all kinds of formats. As an example, big data allows companies like VISA to process, analyze and make decisions surrounding the buying habits of their customers from a selection of over 172,800,000 transactions daily.
This investment certainly prepares Talend for the future of data. When companies analyze more data at one time, they can base business decisions off of objective analytics, instead of having to rely on gut feelings. Already, over 100 large enterprises currently employ someone as their chief data officer, which is double the amount from 2012. Big data will no doubt play a large role in the future of business, which is why it's worth investing in today.