San Francisco, CA (PRWEB) November 07, 2013
Jut has secured $20 million in series B financing. Accel Partners led the investment round, with participation from LightSpeed Venture Partners and Wing.
Still in stealth mode, Jut has built an ambitious vision around the future of big data applications. "It’s now clear that open source big data is radically changing the way information infrastructure is architected for scale and cost," said Steve McCanne, founder and CEO of Jut, "but the real opportunity lies in rethinking how enterprise applications are architected so they can make sense out of the massive volumes of big data."
"By 2016, analysts predict that big data will drive upwards of $200 billion in IT spending. The bulk of that spending won’t be on the underlying infrastructure; it will be on products & services that derive meaning from the data. Jut lives above big data infrastructure and provides a better way for enterprises to capture, analyze, and derive insight from complex data," said Apurva Dave, VP of marketing at Jut.
Read more about the company and the funding on our blog.
Jut was founded by a team that knows how to build successful companies around category-defining technology. Steve McCanne co-founded Riverbed and grew Riverbed to a billion dollar revenue run-rate. He previously co-founded FastForward Networks, acquired by Inktomi and now a part of Yahoo. The management team includes:
For more information on Jut and employment opportunities, please visit http://www.jut.io.