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Ahana, a company owned by Presto, announced today that it has raised $20 million in Series A funding to change how open data lake analytics are done. This brings the total amount of money raised to $24.8 million. Third Point Ventures led the funding round, which also included GV (formerly Google Ventures), Leslie Ventures, and Lux Capital, which had already invested in the company. Third Point Ventures’ Managing Partner, Robert Schwartz, will become a member of Ahana’s Board of Directors.
Today, more companies are adding cloud data lakes like AWS S3 to their traditional cloud data warehouses because they are affordable and flexible. This lets them store a lot more data in different formats.
But it’s hard for the data platform teams to figure out what this data means. Presto is the de facto standard for fast SQL processing on data lakes. It is an open-source project made by Facebook and used by Uber, Twitter, and thousands of other companies. With this investment, Ahana will continue to change the open data lake analytics market with the only Presto SaaS by accelerating engineering and contributions to the open source community and growing its go-to-market teams.
“We’re excited to join the great team at Ahana and help them go from being quickly adopted by early adopters to having a large share of the market.” As modern analytics continue to change, a new stack is appearing next to the data warehouse.
“Companies need a way to access their data that is open and flexible, and the data lake with Presto on top gives them that,” said Robert Schwartz, Managing Partner at Third Point Ventures. “Ahana Cloud is the base for this new stack, which makes it easy for all platform teams to use Presto on their data lake. Any business can use the open data lake for analytics with Ahana. “This is very important.”
Under the Linux Foundation’s Presto Foundation, the Presto open-source project has grown a lot in the past six months. For example, the Docker Sandbox Container for Presto, which is hosted by Ahana, has been pulled hundreds of thousands of times; there are now more than 1,000 people in global Presto meetups; and ten companies are now part of the Presto Foundation.
“From the beginning, Ahana has been focused on providing the easiest Presto managed service for open data lake analytics in the cloud,” said Steven Mih, Cofounder and CEO of Ahana. “This gives data platform teams the ability to provide high-performance SQL analytics on their S3 data lakes.”
“Open source companies like Confluent and Neo4J are gaining a lot of traction in the market right now. “Ahana’s open-source approach to the market and its close relationship with the Presto Foundation have made it the Presto company and the leader in the open data lake analytics space.”
Mark Leslie, Managing Director of Leslie Ventures, said, “Since its launch in June 2020, Ahana has quickly established itself as the Presto company, bringing to market a solution that allows any team to use Presto in the cloud for their data lake analytics.” “When you add that to the momentum we’re seeing in the Presto community, I’m looking forward to even more from the Ahana team as they work towards their vision of the open data lake analytics stack with Presto.”
About Ahana
The company behind Presto, Ahana, has the only managed service for Presto on AWS. The goal of this service is to make open data lake analytics easier. Presto is the de facto standard for fast SQL processing on data lakes. It is an open-source project made by Facebook and used by Uber, Twitter, and thousands of other companies.
Ahana Cloud offers the easiest Presto SaaS and lets data platform teams run high-performance SQL analytics on their S3 data lakes and other data sources. As a leader in the Presto community and the Presto Foundation of the Linux Foundation, Ahana is also interested in helping open-source Presto grow and spreading the word about it.
Ahana was founded in the year 2020. It is based in San Mateo, California, but all of its employees work from home. Investors include GV, Leslie Ventures, Lux Capital, and Third Point Ventures.
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