Welcome!

@DXWorldExpo Authors: Zakia Bouachraoui, Yeshim Deniz, Liz McMillan, Elizabeth White, Pat Romanski

News Feed Item

Concurrent, Inc. Closes $10 Million in Series B Funding for Big Data App Infrastructure

Market Leader Continues Customer and Corporate Momentum, Adds Board Member and Additional Funding to Drive Product Development and Operational Capabilities

SAN FRANCISCO, CA -- (Marketwired) -- 06/02/14 -- Concurrent, Inc., the enterprise data application platform company, today announced $10 million in Series B funding, further validating the company's leadership in enterprise application development. New investor Bain Capital Ventures led the funding round, with the participation of existing investors Rembrandt Ventures and True Ventures. Concurrent will use the financing to drive research and development of its flagship product Driven, the industry's first application performance management product for data-centric applications, and Cascading, the most widely used application development framework for building data-oriented applications. Concurrent will also scale its operations to meet growing customer demand.

Enterprises are rapidly adopting Hadoop. With it comes the increasing demand to quickly operationalize their data and delivery of data products to their customers. Concurrent enables organizations to quickly build, deploy and manage data-centric applications to meet the growing demands of the business.

Concurrent leads the market in Big Data application infrastructure with Cascading and Driven. With Cascading at the core, Concurrent continues to meet customer demand for advanced enterprise application development by supporting emerging fabrics and technologies, forging important industry partnerships and making data-driven application development simpler, faster and smarter.

Concurrent's recent corporate, customer and product milestones include:

  • Driven, the company's flagship enterprise product, purpose built to address the pain points of enterprise data application development and data application performance management by providing unprecedented visibility and control to organizations who need to deliver operational excellence.
  • Cascading 3.0 extends the de facto standard in data application infrastructure technology. Cascading sets the standard for enterprise application development, and delivers a framework that allows enterprises to build their data applications once and provides the flexibility to deploy them on the data processing fabric that best meets their business needs.
  • Cascading surpassed more than 150,000+ user downloads per month.
  • New and expanded strategic partnerships with Hortonworks, Rackspace, EPAM and Databricks.
  • Leadership expansion with the appointment of Supreet Oberoi as vice president of field engineering to support accelerated customer and product growth.
  • Inclusion in CRN's Big Data 100 in the "Big Data Infrastructure Tools and Services" and "Emerging Big Data Vendors" categories.
  • Recognition by the SD Times editors for the publication's annual SD Times 100 in the "Big Data and Business Intelligence" category.

In conjunction with today's funding news, Concurrent also announced that Salil Deshpande has joined its board of directors. Salil is managing director at Bain Capital Ventures and focuses on software infrastructure, open source and enterprise software. He also co-heads the new Palo Alto office, which has made 20 new investments in the last two years. Prior to Bain Capital Ventures, Salil spent seven years as general partner at Bay Partners, and over the last eight years has invested $120 million into 26 companies, including Typesafe, Aria Systems, MuleSoft, Buddy Media, SpringSource, Groovy and Grails, DataStax, Lending Club, Engine Yard, Dynatrace, ZeroTurnaround, Hazelcast, Iron.io and Redis Labs. Salil is on the Forbes Midas List for 2013 and 2014.

Supporting Quotes
"Concurrent continues to propel innovation forward and exemplifies just the type of company Bain Capital Ventures looks to invest in -- a business at the forefront of a hot market, with a uniquely developed, defined and widely adopted technology, and a highly seasoned executive team that understands how to best serve the enterprise application infrastructure market. The growth opportunity is huge, and I look forward to serving on the company's board to contribute to Concurrent's future direction and growth."
-Salil Deshpande, managing director, Bain Capital Ventures

"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."
-Gary Nakamura, CEO, Concurrent, Inc.

Supporting Resources

About Concurrent, Inc.
Concurrent, Inc. is the leader in Big Data application infrastructure, delivering products that help enterprises create, deploy, run and manage data applications at scale. The company's flagship enterprise solution, Driven, was designed to accelerate the development and management of enterprise data applications. Concurrent is the team behind Cascading, the most widely deployed technology for data applications with more than 150,000 user downloads a month. Used by thousands of businesses including eBay, Etsy, The Climate Corp and Twitter, Cascading is the de facto standard in open source application infrastructure technology. Concurrent is headquartered in San Francisco and online at http://concurrentinc.com.

Media Contact
Danielle Salvato-Earl
Kulesa Faul for Concurrent, Inc.
(650) 922-7287
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

DXWorldEXPO Digital Transformation Stories
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...