@DXWorldExpo Authors: Liz McMillan, Elizabeth White, Yeshim Deniz, Pat Romanski, Kevin Benedict

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.

@BigDataExpo Stories
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
DXWorldEXPO LLC announced today that Dez Blanchfield joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, m...
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 ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
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.
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.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
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...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DXWorldEXPO LLC announced today that "Miami Blockchain Event by FinTechEXPO" has announced that its Call for Papers is now open. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expe...