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Warehouse virtualization, alternatively known as logical data warehousing and data federation, offers advantages over traditional data warehousing solutions in that it’s faster and cheaper to market. That’s because it doesn’t require designing, building, and deploying a data warehouse (i.e., a system for reporting and data analysis) from scratch and because it eliminates the need for pricey software licenses and hardware infrastructure.
Mike Waas knows this well. A former Microsoft and Amazon employee, he’s the founder and CEO of Datometry, a virtualization startup that’s developing a platform called Hyper-Q to make databases interchangeable by translating apps in real time. After raising a $10 million series A in June 2017, the company today announced that it has secured $17 million in a series B round led by WRVI Capital, with participation from previous investors that include Amarjit Gill, Dell Technologies Capital, Redline Capital, and Acorn Pacific.
Waas, who noted that this latest round brings Datometry’s total raised to nearly $30 million, said the new investment will accelerate go-to-market activities with partners like Microsoft Azure, Amazon Web Services, Google Cloud, and others. “Replacing a legacy data warehouse with a modern cloud data warehouse is one of the most rewarding, but also the toughest, challenges IT leaders are currently facing,” he added.
To this end, Datometry’s Hyper-Q allows existing apps to run natively on cloud data warehouses without the need to change SQL, the domain-specific language used to program and manage data in a relational database. Using a technique Waas calls “adaptive data virtualization,” Hyper-Q emulates legacy warehouse functions and transforms the apps themselves, all while connecting seamlessly to warehouses like Azure SQL DW, Azure SQL DB, AWS Redshift, PostgreSQL, Google BigQuery, and Snowflake and deploying on-premises and to AWS, Azure, and hybrid clouds.
Concretely, Hyper-Q intercepts communication off the network native protocol and returns results for database applications, translating query statements and results in real time. The platform also transforms keywords in legacy and source SQL statements that aren’t supported on newer cloud data warehouses and uses currently available SQL features and keywords to achieve the same results. Together, these techniques enable apps to use the SQL syntax and cut overhead to less than 2%, while in some cases increasing efficiency by batching together database operations.
As for qShift, which is a part of Datometry’s wider replatforming solution, it automatically converts legacy or source data warehouse schema into the cloud or warehouse of a customer’s choice. QShift takes into account the existing objects in the source schema and generates the appropriate queries for the destination warehouse, keeping track of database mismatches to use during query translation and transformation. And it helpfully preserves the original stored procedures and macros for emulation, such that the process remains autonomous.
Datometry offers a complementary product in qInsight, which summarizes the functional, operational, and performance statistics of data warehouse workloads while assessing their capability with a target cloud warehouse. It prioritizes workload hygiene and delivers a feasibility analysis that includes a timeline for implementation, analyzing millions of statements per hour.
Waas declined to name names, but he said Datometry counts many retail, health care, telecommunications, and electronics manufacturing enterprises in the Fortune 500 and Global 2000 among its customers. He believes this positions the company well in the soon-to-be $4.12 billion data virtualization market. “Our Hyper-Q platform redefines this transformation entirely: We give enterprises a software-based, simple, and reliable path,” he said. “We provide both cloud vendors and enterprises unique means to improve their competitive posture significantly.”
The once-polarizing world of open-source software has recently become one of the hotter destinations for VCs.
As the popularity of open source increases among organizations and developers, startups in the space have reached new heights and monstrous valuations.
Over the past several years, we’ve seen surging open-source companies like Databricks reach unicorn status, as well as VCs who cashed out behind a serious number of exits involving open-source and dev tool companies, deals like IBM’s Red Hat acquisition or Elastic’s late-2018 IPO. Last year, the exit spree continued with transactions like F5 Networks’ acquisition of NGINX and a number of high-profile acquisitions from mainstays like Microsoft and GitHub.
Similarly, venture investment in new startups in the space has continued to swell. More investors are taking shots at finding the next big payout, with annual invested capital in open-source and dev tool startups increasing at a roughly 10% compounded annual growth rate (CAGR) over the last five years, according to data from Crunchbase. Furthermore, attractive returns in the space seem to be adding more fuel to the fire, as open-source and dev tool startups saw more than $2 billion invested in the space in 2019 alone, per Crunchbase data.
As we close out another strong year for innovation and venture investing in the sector, we asked 18 of the top open-source-focused VCs who work at firms spanning early to growth stages to share what’s exciting them most and where they see opportunities. For purposes of length and clarity, responses have been edited and split (in no particular order) into part one and part two of this survey. In part one of our survey, we hear from:
- Explaining what a startup is all about in a face-to-face meeting with a venture capitalist is one of the toughest challenges for any startup founder or CEO.
- Having an impressive pitch deck is great, but that won’t be enough if you don’t wow a venture-capital investor when you meet in person.
- We asked top venture capitalists from Goldman Sachs, Kleiner Perkins, Sapphire Ventures, Intel Capital, and Dell Technologies Capital about the most memorable and impressive startup pitches they’ve ever heard.
- They said the CEOs of these nine startups impressed in their presentations.
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Convincing investors to finance your startup can be tough.
An impressive fancy-looking pitch deck packed with data on what you’re building could help. But in many cases, you need to sell your idea and story in person.
It’s that face-to-face meeting with the venture capitalists you hope will be wowed by your story that will likely determine if you get the funding you need. And that’s not always easy.
Making a presentation to venture capitalists “is an art,” Sapphire Ventures President Jai Das told Business Insider. “It’s how well you narrate your story, how you create an option that a lot of people get interested in.”
We asked executives from major venture-capital firms about the most impressive startup pitches they’ve watched in their careers.
Here are the founders and execs from nine startups who wowed top investors from Goldman Sachs, Sapphire Ventures, Kleiner Perkins, Intel Capital, and Dell Technologies Capital: