Upsolver raises $25M Series B round to reinvent analytics on cloud data lakes

Company triples revenue as the market embraces its no-code approach to making raw cloud data analytics-ready

SUNNYVALE, Calif. — April 6, 2021 — Upsolver, the only no-code data lake engineering platform for agile cloud analytics, today announced $25 million in Series B financing led by Scale Venture Partners (Scale). Existing investors JVP, Vertex Ventures US, and Wing Venture Capital also participated in the round. As part of the investment, Ariel Tseitlin — Partner at Scale and former Head of Netflix Cloud Solutions — has joined Upsolver’s board of directors. The company also announced its free Upsolver Community Edition, an integral part of the Upsolver platform that delivers on its vision for universal access to cloud data.

The new funding comes on the heels of Upsolver’s $13 million Series A and follows a tripling of the company’s revenue in 2020, including the addition of marquee customers such as Cox Automotive, Wix, and AppsFlyer. Upsolver will use the financing to aggressively build its team, scale its go-to-market engine, and drive technical innovation.

In addition, Avner Gideoni has recently joined Upsolver as Israeli site manager and VP of engineering. Avner has previously scaled security research and development at Trusteer and Taranis and will double Upsolver’s Israeli R&D team in each of the next three years.

Companies are rapidly migrating their organizational data into cost-effective cloud data lakes. However, making the data valuable for analytics requires complex engineering projects that take months to complete and rely on unicorn data engineers skilled in distributed systems like Apache Hadoop or Apache Spark.

With Upsolver, cloud analytics can be both cost-effective and agile. Upsolver addresses the complex challenge of transforming raw, big data into structured tables with a visual SQL IDE that any data practitioner can use, combined with an execution engine that automates data lake engineering to ensure high-performance. Since Upsolver is based on open source file formats like Apache Parquet, companies avoid vendor lock-in and can take advantage of a multitude of query engines such as PrestoDB, Trino, and Athena, or data systems like Snowflake, AWS Redshift, Azure Synapse Analytics, Splunk, and Elasticsearch.

“Monolithic analytics platforms are a thing of the past. Today’s organizations require a variety of analytics tools to fully capitalize on their data,” said Ariel Tseitlin, Partner at Scale. “Data lakes originally promised this variety and openness but also required a large, ongoing investment in engineering. Upsolver eliminates this trade-off. The company’s steep growth curve, top-quartile net revenue retention, and superior technology prove its leadership in the cloud data space. We’re thrilled to back the team.”

Ori Rafael (Rafael) and Yoni Eini (Eini), two database engineers, founded Upsolver after experiencing firsthand the frustration and complexity of building a cloud analytics solution using Spark. “We wanted to store data affordably in the cloud without analytics vendor lock-in,” said Rafael. “Unfortunately, what used to take three hours using SQL turned into a month or more of hand-coding and hundreds of configurations in Spark. We created Upsolver to transform cloud analytics into an agile process.”

Upsolver is available on AWS Marketplace and Azure Marketplace, and a free community version is also available on the Upsolver website.

About Upsolver

Upsolver is the only no-code data lake engineering platform for agile cloud analytics. Co-founded by CEO Ori Rafael and CTO Yoni Eini in 2014, Upsolver helps organizations such as Cox Automotive, ironSource, and Sisense make cloud data analytics-ready in days, through a visual SQL UI and unique automation of data lake engineering best practices. With headquarters in Silicon Valley, Upsolver is a global company operating across North America, Europe, and Israel. The company has raised $42 million in funding from investors, including Scale Venture Partners, Vertex Ventures US, Wing Venture Capital, and JVP.

About Scale Venture Partners

Scale is a Silicon Valley-based venture capital firm that invests in the future leaders of enterprise software. We were early investors in SaaS pioneers Box, DocuSign, HubSpot, RingCentral, and Bill.com. Today we’re focused on the next generation of enterprise software companies building Cognitive Applications like JFrog, WalkMe, CircleCI, KeepTruckin, BigID, and Demandbase. Our Scale Studio platform leverages an unrivaled dataset of 1000+ successful startups to give founders benchmarks on their company’s “Vital Signs” — the growth and operating metrics that matter most. Learn more about our people, portfolio, and perspectives at www.scalevp.com.

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Jerusalem Venture Partners™ is a leading international Fund with strong presence in Israel and New York. For the past 30 years, JVP has been instrumental in building some of Israel’s international category leaders, scaling them to North America, Europe and Asia, with significant ownership positions. JVP invests early, taking large positions on a low-cost basis, and then invests in the companies again, to maintain and increase its position, with leading third party international Funds.

A Defining Moment for Cybersecurity, for JVP, and for Israel/US Cooperation: CyberArk’s $25B Merger with Palo Alto Networks

Last week marked a moment of both pride and reflection for all of us at JVP. The announcement of CyberArk’s $25 billion acquisition by Palo Alto Networks is not just a landmark deal in the cybersecurity landscape—it’s a powerful validation of the JVP Way, our approach to company building that continues to define our firm today.

While we are no longer CyberArk shareholders, having exited our position a few years after its IPO, we were proud to have been CyberArk’s leading and largest shareholder from its early days to several years after it became a public company and its emergence as an international category leader. While I was Chairman of the company, we partnered closely with the founders during the most formative years of its journey. Back in 2011, when many investors were ready to sell the company for $120 million, JVP chose to reinvest and increased our position to 47%, buying out early shareholders, bringing in Goldman Sachs as an equity investment partner, and partnering with management to lay the foundation for a strong international expansion. That pivotal moment gave the company the opportunity to scale into a true global market leader.

CyberArk has always been ahead of the curve—pioneering insider threat protection, secrets management, machine-to-machine authentication, and most recently, preparing the world for secure Agentic-AI infrastructure. Its merger with Palo Alto Networks positions it to lead the AI era with a fully integrated, end-to-end security platform.

We invite you to revisit JVP’s unique role in CyberArk’s growth in this Forbes feature, Reuters press, and from CyberArk’s newsroom.

This milestone is a reminder that JVP’s tried and true approach – invest, reinvest, roll up our sleeves, and work diligently alongside founders and management teams to build category leading global companies – works. The JVP Way, developed over 30 years, is what enables JVP to build companies that lead and transform industries to the benefit of our investors.

Today, we continue to apply the same methodology to our current portfolio with company after company surpassing the $100 million revenue threshold, with JVP owning 40% or more, as they too become category-leading international businesses.