Singapore-based communications, media and technology (CMT) investor ST Telemedia has made its first investment in big data, leading a $40 million financing round in Datameer.
California-based Datameer is a big data analytics and visualization company. It was founded in 2009 with the aim of combining Hadoop with an easy-to-use spreadsheet interface.
The company has since picked up a a customer base including some major operators, financial institutions and multinationals.
By leading the investment ST Telemedia will be entitled to be represented on the Datameer board. Proceeds from the financing round will be put towards growth initiatives including pursuing global expansion.
This marks ST Telemedia's first investment in big data. Announcing the move, the company said big data is gaining momentum across a rising number of enterprise and government organizations, and increasingly becoming a critical component of business strategy.
ST Telemedia plans to use the investment to participate in the growing segment while allowing Datameer to take advantage of ST Telemedia's market insights, partnerships and existing business portfolio.