This week, RainStor announced the finalization of $12 million in Series C funding from Credit Suisse and Rogers Venture Partners, with additional participation from existing investors Doughty Hanson Technology Ventures, Storm Ventures and The Dow Chemical Company. RainStor plans to use the funding to enhance product development and further develop its sales and marketing team. RainStor has two “editions” of a Big Data product that enables enterprises to more effectively store and conduct analytics on massive amounts of structured and unstructured data: Big Data Retention and Big Data Analytics On Hadoop. Big Data Retention allows enterprises to effectively store and access massive amounts of historical data that is used less frequently than mission critical data stores. RainStor’s Big Data Analytics On Hadoop empowers enterprises to perform analytics on petabytes of structured data.
RainStor’s Big Data solutions can be flexibly deployed across a number of IT infrastructures including SAN, NAS, CAS and cloud-based platforms. Moreover, its Big Data products allow for queries using SQL, popular BI products and MapReduce when running on the Hadoop Distributed File System. RainStor’s Big Data platform leverages patented compression technology to store and retrieve massive amounts of structured data at low cost. Peter Norley, Managing Director at Credit Suisse, remarked on the importance of RainStor’s Big Data platform to the financial services industry as follows:
Driven by compliance regulations, banks and financial institutions are now required to retain and analyze petabytes of data. Compounded by rapid growth, current needs exceed the capacity of existing database and data warehouse environments. RainStor has built a unique combination of database capabilities that have proven essential for financial institutions in order to sustain growth levels in the most cost effective way, while meeting regulatory needs.
Here, Norley elaborates on how RainStor’s offering enables financial institutions to comply with regulations that dictate the preservation of massive amounts of data. Compliance regulations dictate that enterprises confront data storage needs that exceed the capacities of current warehousing options and consequently require a Big Data offering such as RainStor’s. Used by over 100 enterprises for Big Data management and analytics, RainStor’s Big Data platform stands poised to build on its unique branding as a nimble, cost effective, customer-centric Big Data platform with “the highest level of compression on the market” in addition to advanced querying capabilities.