Concurrent on Wednesday announced a new $4 million funding round led by True Ventures and Rembrandt Venture Partners. The $4 million cash infusion adds to the company’s 2011 funding, which topped out at $900,000.
Along with raising an impressive amount of money, Concurrent also named Gary Nakamura as its new CEO. Nakamura is the former vice president of Terracotta, a firm that eventually sold to Software AG. During his time at Terracotta, Nakumura oversaw operating profit and loss and ran business operations for sales, marketing, and product management.
Concurrent is a competent solution that helps developers normalize data. Unlike Apache Hadoop, which involves complex development requirements, Concurrent sits right between the app layer and the database. Concurrent uses a Yahoo Pipes type setup for moving data, cleansing data, and preparing that data for researchers and app developers.
Concurrent already has an impressive list of customers that includes eBay, Etsy, FlightCaster, and Twitter among others. All of those partners use the Cascading Java framework for streamlining data, for filtering data, and for workflow optimization.
Concurrent specializes in working with large streams of data in a real-time environment.
Data consumption continues to increase at breakneck speeds, and platforms such as Concurrent aim to ease the pain of that data expansion. By streamlining the data process, software providers are able to lower their costs of customer acquisition while at the same time ensuring the reliability of their networks.
As data heavy networks continue to rapidly expand, we can expect to see more startups along the lines of Concurrent, New Relic, and other providers of data deployment and systems monitoring.
Do you see the value in using third-party services to ease the hassles of working with large amounts of data on an often global scale?