star formation, well funded data warehouse analytics service and data query engine based on the open source Trino project today announced the acquisition Varada, a Tel Aviv-based startup specializing in data lake analytics. Using Varada’s patented indexing technology, enterprises can easily exploit their data lakes, a feature that neatly extends the Starburst query engine. This, Starburst claims, will allow it to better compete with Snowflake and Databricks in the growing data analytics market.
“With the addition of Varada indexing technology, we can help data teams better serve the business by providing the right data right now. This powerful combination is the perfect fit for a volatile economy to force companies to rethink their budgets as business needs only increase,” explains Starburst CEO Justin Borgman in a statement today.
Similarly, Varada co-founder and R&D VP Roman Weinbrand notes that the combined companies will be able to “deliver the best performance and cost benefit in the analytics query market, allowing organizations to accelerate insights and optimize infrastructure operations. and investments.
Varada engineers and product leaders will be joining Starburst, and both companies expect to start integrating their products next month, with them going public by fall 2022. The Starburst team believes that the integrated product will allow users to significantly reduce cloud computing costs and reduce query response times by up to 7 times.
Both companies did not disclose the acquisition price. Varada last raised $12 million Series A round led MizMaa Ventures in 2020. The company has seen some leadership changes over the years, with co-founder and former CEO and CTO David Krakow leaving the company at the end of 2021, for example. We haven’t heard much from Varada since its last funding round, but it’s certainly an example of the data analytics market starting to consolidate as the underlying technologies mature, usage patterns crystallize, and a small number of companies start to emerge as early winners. .
Credit: techcrunch.com /