DaaS Platform Dremio Expands Funding to $45 Million

Dremio, a Data-as-a-Service platform company, received an investment from Cisco Investments that extended the company’s Series B financing to $30 million, bringing the total amount of funding raised to $45 million. The company previously closed their Series B round—led by Norwest Venture Partners with participation from existing investors Lightspeed Venture Partners and Redpoint Ventures—in January 2018.

Over the last year, Dremio added customers in 80 countries, spanning a dozen industries from financial services and healthcare to retail and technology. According to the company, leading organizations Daimler, Fred Hutch, Idio, Intel, OVH, Royal Caribbean, TransUnion, and UBS use Dremio’s DaaS platform. The company now has 70 employees, tripling its 2017 employee count.