|By Maureen O'Gara||
|December 10, 2012 08:15 AM EST||
Cloudera, the four-year-old Hadoop and Big Data pioneer, has closed a massive $65 million E round led by Accel Partners, which participated in all four of the start-up's previous rounds raising an initial $76 million.
Existing backers Greylock Partners, Ignition Partners, In-Q-Tel and Meritech Capital Partners also kicked in. They valued Cloudera at $700 million according to All Things Digital, which figures it's warming up for an IPO given the huge market it's addressing.
The money will be used to fund global sales growth and continued development of the company's platform. It expects to open a European headquarters in the UK in the first quarter.
Accel says Cloudera is "well positioned to expand its revenue and global customer footprint."
The company says its sales, customers, employees and data under management have more than doubled over the past 12 months.
It expects to "shape and define the next generation of Big Data management solutions for the enterprise." Its customers include more than half of the Fortune 50 and companies such as AOL, CBS, eBay, Expedia, Experian, JP Morgan Chase, Monsanto, Morgan Stanley, Network Appliance, Nokia, RIM and Disney.
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