Open-source data integration company Talend reportedly raised $40 million in a recent funding round. Backed by existing investor Silver Lake Sumeru and new investors Bpifrance and Iris Capital, Talend said the new funding will go towards its plans to pursue an initial public offering in the near future, and focus on Hadoop technologies for its product roadmap. Part of the funding round's proceeds will also go towards building its inside sales and marketing. Talend in total has raised $101.6 million, according to a TechCrunch report.
Talend Chief Executive Officer Mike Tuchen said about its open-source business, "We are an open source company, we have free downloads. We get tens of thousands of downloads every day. Whenever you do a download based approach, you figure it out after they download - it's more of a bottoms up approach than streaming a top down segmented approach."
BpiFrance's participation in the funding round was seen as strategic, as it specializes in aiding companies in conducting its IPOs. Tuchen added via email, "We're building a fast growing market leader which we believe has the potential to go public. Of course, the standard caveats apply about not being able to predict the future."
Tuchen disclosed that economics is the main reason why Talend and other big data services providers succeed. He reasoned to TechCrunch that new approaches to analytics and data processing allows companies to save as the former is a hundred times more cost-effective than implementing data warehouse methods. Moreover, Talend's real value, said the report, is its ability to connect data and take advantage of it without running separate processes like deployments, management and monitoring. This means that Talend's services are considerably cheaper than its rivals on the big data market. As such, the company is offering services in data management, data integration and business process management.
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