Firebolt wants to expand into Germany

The analytics start-up from Israel is now based in Munich. The number of employees is set to double within a year.

The Israeli cloud data warehouse specialist Firebolt has raised 127 million US dollars in a Series B financing round. New investors are Dawn Capital from London and K5 Global from Los Angeles. The company intends to use the money to drive forward its expansion, particularly in Germany. The German headquarters are in Munich, in particular thanks to the research-strong Technical University, which makes it easy to collaborate with science, according to a company press release.

Firebolt offers developers a tool with which they can analyze large amounts of data. "The cloud has driven companies to store ever-increasing amounts of data, which poses an immense challenge for data and analytics teams trying to extract the hoped-for value from this treasure trove of data," says CEO Eldad Farkash, explaining the business model. "Organizations today need complex data storage that requires a high level of performance that is not readily available. Firebolt takes the inertia out of the whole process and enables developers to build interactive data applications that are very fast, even with extremely large amounts of data."

Firebolt currently employs 100 people. This number is set to double in the coming year. In addition to Munich, the start-up is currently establishing further branches, including in Zurich, London, Dublin, Kiev and Cluj. The headquarters are in Tel Aviv.