Ahana seizes $ 20 million to develop Presto Biz
Presto’s startup Ahana today announced the completion of its Series A cycle led by Third Point Ventures, earning it $ 20 million in capital to grow its data lake analytics business, which is currently operating. on AWS but will be extended to other clouds.
Ahana opened its virtual doors just 15 months ago, at the start of the COVID-19 pandemic. Last July, the company completed a fundraising round led by the venture capital arm of Google GV for $ 2.25 million. This gave him the capital to complete the development of his first managed Presto offering, which debuted on AWS in December.
Since then, the San Mateo, Calif., Company has recruited dozens of paying customers who are looking for open source data warehouse alternatives for data stored on AWS S3, according to Steven Mih, co-founder and CEO of the company. .
“Data warehouses are quite expensive. Cloud data warehouses don’t come cheap, and that’s because they’re all proprietary, ”says Mih. “But when you have the commodity storage layer [in S3] and you have Presto open source – wow, this is probably the most cost effective place to run my analyzes if I have to have a lot of data.
One of those new customers running Ahana’s Presto query engine on top of their S3 data lake is Securonix, a cybersecurity company developing a security information and event management (SIEM) offering. Securonix previously ran on a distributed Hadoop architecture, and while looking for alternatives, he discovered Presto, says Dipti Borkar, co-founder and product manager of Ahana.
“They were looking for what is the best engine for the next five to 10 years to innovate on,” Brokar said. “That’s where they looked at the options and chose Presto, for the open source aspect, the fact that it was community driven and because of the managed service. “
Presto was originally developed on Facebook in 2012 as a successor to Apache Hive, the SQL query engine that Facebook created for Hadoop. Facebook released Presto to the open source community in 2013, and its popularity has grown steadily since.
Ahana is active in the open source community through the Presto Foundation, which is supported by the Linux Foundation. Mih is a member of the board of directors of the Presto Foundation, which also includes Facebook, Uber and Intel as members, and Borkar is the co-chair of community outreach at the Presto Foundation.
As a query engine, Presto can work with a wide variety of data sources, from relational databases like Postgres to distributed file systems like HDFS to object stores like S3. This gives Presto great flexibility.
But this flexibility comes at a cost, and the downside to Presto is that it’s not easy to perform. While companies like Facebook and Uber have the engineering resources to run it in-house, it’s not an easy task for small businesses. This has enabled managed service companies like Ahana to deliver a Presto service that masks the underlying complexity of big data analytics software.
Hiding complexity is one of the main benefits of Ahana, who won a 2020 award Datanami Editor’s Choice Award in 2020 According to Mih, companies trying to run Presto on their own would normally take six months to properly configure, tune, and test their setup.
“It was the Hadoop era,” he says. “Now we can get people up and running in 30 to 45 minutes. They’ll do a 14-day test, just to make sure they like concurrency, like performance, and then they’re just going to pay as they go. Everything happens in the AWS marketplaces, on time, just like the data buses.
Ahana plans to use the funds to develop all aspects of her business. This includes expanding the engineering team, accelerating open source collaboration work, and scaling the go-to-market team.
Robert Schwartz, Managing Partner of Third Point Ventures, said he looks forward to helping Ahana Cloud take part in the emerging data analytics stack.
“As we see the evolution of modern analytics, we see a new stack emerging alongside the data warehouse,” Schwartz said in a press release. “Businesses need an open and flexible approach to accessing their data, and the data lake with Presto on top makes it possible.
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