Varada, a Tel Aviv, Israel-based big data query acceleration company, closed a $12m Series A round of funding.
The round was led by MizMaa Ventures, with participation from Gefen Capital and existing investors Lightspeed, StageOne Ventures and F2 Venture Capital.
The company intends to use the funds to expand operations and business reach.
The company’s headquarters are in Tel Aviv, with U.S. offices in San Mateo, Calif.
Founded by David Krakov, Roman Vainbrand and Tal Ben Moshe, veterans of the Dell EMC XtremIO core team, Varada is now preparing the general availability of its data virtualization platform, which will help users accelerate big data workloads while optimizing control over performance and cost. The company’s patented indexing technology uses machine learning to accelerate relevant and high-priority queries automatically without any overhead to query processing or any data maintenance. Varada’s indexing works transparently for users, and indexes are managed automatically by its proprietary cost-based optimizer. Varada is able to identify which queries to accelerate and which indexes to maintain. These capabilities enable data teams to serve a wide range of business requirements with no operational overhead and truly deliver the promise of data virtualization.