Firebolt, a Tel Aviv, Israel-based cloud data warehouse company, raised $127m in Series B equity funding.
The round, which brought total funding to $164m, saw the participation from new investors Dawn Capital and K5 Global and previous investors Zeev Ventures, TLV Partners, Bessemer Venture Partners, and Angular Ventures.
The company intends to use the funds continue to further expand its product, engineering and go-to-market teams and its business reach.
Led by Co-founder and CEO Eldad Farkash, Firebolt is a cloud data warehouse company that provides tech companies with a modern data stack to analyze large data sets, create rich and fast analytic experiences, while requiring less computing power to reduce costs. Built on a modern decoupled storage and compute architecture, Firebolt allows its users to pair any workload with the right compute resources without having to deal with common challenges around storage and cluster management that typically require extensive engineering maintenance. It allows 100% programmatic control of its platform through APIs and SDKs for developers to create rich data applications. SQL can be used to control everything in the platform.
Since its $37m Series A in December 2020, Firebolt has gained traction with data engineers and software developers for a broad range of applications, spanning from internal BI to customer-facing and operational data applications.
Over the past six months, the company has doubled its employee headcount to 100 with plans to double again over the next 12 months. In addition to the growth in the U.S., Firebolt added 6 global sites with Munich, Zurich, London, Dublin, Kiev, and Cluj joining its site in Tel Aviv.
Keenan Rice joined to lead US operations as Firebolt GM to build its San Francisco HQ.