Firebolt wants to expand into Germany

The analytics start-up from Israel now has a headquarters in Munich. The number of employees is to be doubled 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 its expansion, particularly in Germany. The German headquarters is in Munich, thanks in particular to the research-heavy Technical University, which makes it easy to collaborate with academia, according to a company statement.

Firebolt offers developers a tool to analyze big data. "The cloud has driven companies to store ever-increasing amounts of data, which presents an immense challenge to data and analytics teams trying to extract the value they hope to gain from this treasure trove of data," CEO Eldad Farkash said, explaining the business model. "Enterprises today require complex data stores that demand 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 data sets."

Firebolt employs 100 people today. It plans to double that number in the coming year. Currently, the startup is building other branches in addition to Munich, including Zurich, London, Dublin, Kiev and Cluj. Its headquarters are in Tel Aviv.