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Varada raises $7.5 million to apply analytics to data lakes

January 23, 2019 / KYLE WIGGERS

Varada, a Tel Aviv startup that offers “petabyte-scale” analytics for enterprise customers with data lakes, today announced that it has raised $7.5 million in seed financing from Lightspeed Venture Partners, with participation by StageOne Ventures and F2 Capital. It’s the second phase of a two-stage round, the first part of which involved a $2.5 million investment in March 2017 from StageOne Ventures and F2 Capital. Eran Vanounou, CEO of Varada, said the fresh capital will be used to expand Varada’s business operations and development. “We know firsthand the daily struggle felt by many data practitioners who are continuously having demands placed on them, often resulting in the compromising of the quality of their work,” Vanounou said. “I have led large data-driven global organizations for the past 15 years. When I met Varada’s founding team and saw their technology, I realized immediately its value for enterprises — it solves the p...