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MapR Stakes its Claim as a Leader in the Big Data MarketMapR Technologies, Inc., provider of the Converged Data Platform that fully integrates analytics with operational processes in real time, today announced it completed another outstanding quarter, as the company continues to challenge both traditional and current Big Data solutions. The company is becoming the system of record for many enterprises and organizations who are advanced in their digital transformation journeys. In addition, MapR announced an equity round of $56 million from existing investors. The funds will be used to continue product innovation of the industry's first modern enterprise platform for all data, accelerate country and regional growth to fulfill the demand for the MapR Converged Data Platform throughout APAC and Europe, and bolster MapR's thriving global partner community. Companies around the world rely on MapR to transform their business and achieve disruptive advantage with their data," said Barry Eggers, managing partner, Lightspeed Venture Partners. "The company has consistently demonstrated solid performance and we believe its technology leadership will continue to drive its growth and success." MapR reported 100 percent quarterly billings growth that highlights an outstanding second quarter of fiscal 2018, which ended on July 31, 2017, one of the largest increases for the company. The second quarter was fueled by advanced product innovation, significant partner growth across regions, and solid customer acquisition. MapR continued to deliver strong revenue performance in the second quarter with over 100 percent year over year growth in new subscription billings which is a catalyst to the company's 70 percent annual billings growth, year over year. Global 2000 companies are deploying the MapR Converged Data Platform around the world including American Express, Audi, Cisco, Ericsson, HPE, Novartis, NTT Security, SAP (News - Alert), UnitedHealthcare and Wells Fargo. "Our customers and artners continue to be at the forefront of this 30-year re-platforming the industry is going through today. We are working closely with them to ensure their success and helping them to execute on their digital transformation and data strategies," said Matt Mills, CEO, MapR Technologies. "In doing so, we are helping to solve some of the most complex data challenges with the industry's only Converged Data Platform that integrates analytics and operations with data as it happens. Our performance in recent quarters and the additional equity from our existing investors are proof points that we are successfully executing on our strategy as we continue to be heads-down and focused." Q2 Highlights:
About MapR Technologies Headquartered in San Jose, Calif., MapR provides the industry's only Converged Data Platform that enables customers to harness the power of big data by combining analytics in real-time with operational applications and improving business outcomes. With MapR, enterprises have a data management platform to undertake digital transformation initiatives that achieve a competitive edge. Amazon, Cisco, Google (News - Alert), Microsoft, SAP, and other leading businesses are part of the global MapR partner ecosystem. For more information, visit mapr.com.
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