Ahana, a cloud data lake services provider built around open-source Presto, recently raised a $20M Series A led by Third Point Ventures. The company offers a service that enables data platform teams to provide SQL analytics on their data sources.
This article will provide an overview of Ahana’s services and the benefits it can provide to companies.
Ahana, a cloud data lake services provider built around open-source Presto, raises $20M Series A led by Third Point Ventures (Kyle Wiggers/VentureBeat)
Ahana is a cloud data lake Managed IT Services provider built around open-source Presto, enabling data platform teams to provide SQL analytics on their sources. By leveraging the open architecture of Presto, Ahana can unlock the large-scale analytics capabilities and ensure the scalability of its service. In addition, by utilising the distributed processing power of Presto, Ahana’s cloud data lake can ingest and transform data quickly into secure and reliable warehouses.
Ahana’s service enables users to query and analyse datasets faster than ever by using parallel computing techniques on large datasets.
Recently, Ahana closed its Series A funding round totaling $20M led by Third Point Ventures. This investment will fund research & development for advancements in the open source Presto community and solution offerings like self-service UI/UX tools, scheduled jobs frameworks and automation capabilities for their customers. As more organisations seek ways to reduce costs while scaling operations and applications, Ahana is in an ideal position to rise to the challenge of big data growth.
Overview of Third Point Ventures
Third Point Ventures is a venture capital firm founded by Daniel S. Loeb in 1995 that has raised more than $6 billion across its five private equity funds. The company provides early- to late-stage investments, follow-on capital and strategic advice to startups across multiple industries including technology, healthcare, and food/beverage.
Third Point Ventures has invested more than $100 million in over 20 companies with industry leading technology solutions. These companies have developed innovative products such as artificial intelligence (AI), machine learning (ML), cloud computing and data analytics technologies that offer enterprise customers the opportunity to streamline processes, save costs and increase profitability. Notable investments include Uber, AirBnB, Instacart and numerous others.
More recently, Ahana became one of Third Point Ventures’ latest investments when it announced a $20 million Series A led by Third Point Ventures in April 2021. The news showcases the confidence of Third Point Ventures in Ahana’s ability to solve modern data platform teams’ challenges of pulling data from multiple sources – updating open source Presto’s tools for SQL analytics – as well as providing businesses with an easy way to query their data instantly from anywhere without having to build complicated custom infrastructure solutions or own any software licences or hardware devices.
Ahana’s services
Ahana is a cloud data lake services provider that offers SQL analytics for data platform teams. Built around open-source Presto, Ahana’s services help customers who want to gain insights from their data and make better informed decisions. The company recently raised a $20 million Series A round of funding led by Third Point Ventures.
Let’s take a closer look at what Ahana’s services offer.
SQL analytics on data sources
Ahana’s cloud data lake services allow teams to access SQL analytics on their data sources without extensive setup and maintenance. This is made possible by leveraging open-source Presto – an open-source SQL query engine optimised for low latency and high throughput – that empowers businesses to quickly process complex ad hoc queries within their data lakes.
Ahana’s cloud service differentiates itself from other solutions in the market through its simplicity, scalability and cost effectiveness. It eliminates costly hardware installation and provides tools to control access restrictions which can guarantee secure interactions with company’s sensitive data. It also features quick start-up time frames thanks to pre-configured clusters that can be rapidly deployed for teams of any size, anywhere in the world.
In addition, with automated monitoring and machine learning capabilities such as customised recommendations when clusters run low on resources, teams can trust Ahana’s automated analytics will always be available. Finally, businesses benefit from the newest technologies at an economically competitive service rate due to Ahana’s pay-as-you-go model which requires no upfront investments resulting in minimised operational risks and simplified administration processes for their data lakes.
Cloud data lake services
Ahana is a cloud data lake services provider built around open-source Presto. The benefits of Ahana’s services revolve around its ability to provide customers with an end-to-end SQL analytics technology stack that allows them to perform any data query from their existing database and data lake.
Ahana’s services address several common issues teams face within their enterprise data platforms, including slow or limited query performance, lack of scalability, and the need for manual workarounds.
Ahana’s cloud service simplifies the execution of complex queries by offering a unified connection frontend for all your datasets, accessible from the same interface you create relationships with other sources. This reduces the time it takes to make connections and understand how different datasets interact. Additionally, Ahana provides a suite of cloud infrastructure optimizations that maximise your cluster’s performance and allow developers to scale quickly as needed—all while ensuring 100% continuity between query runs by automatically preserving logs and history of every query run in compressed storage form.
Furthermore, Ahana’s platform provides robust security with granular role-based access control, advanced anomaly detection algorithms that detect malicious actors before they can exploit systems, certificate transparency logging capabilities to ensure all communication is secure to protect against man in the middle attacks and other cyber threats.
Open-source Presto
Ahana’s services are built around open-source Presto, a distributed SQL query engine that enables data platform teams to process large analytical queries at speeds much faster than traditional Hadoop.
The cloud data lake services provider offers an end-to-end platform with a managed Presto cluster optimised for maximum performance, storage, and scalability. With Ahana’s open-source Presto technology, users can move away from the limitations and complexities of monolithic analytics engines, easily access their data more quickly and efficiently, and query vast amounts of data.
In addition to offering advanced analytics capabilities such as streaming data processing, machine learning integration and visualisation tools for easy sharing of results across teams, Ahana also helps customers build modern applications tailored to the unique needs of their industry.
Series A Funding
Ahana, a cloud data lake services provider built around open-source Presto, has recently announced that it has raised $20 million in Series A funding led by Third Point Ventures.
This marks an important milestone for the company. It is now better positioned to expand its cloud data lake services and enable data platform teams to provide SQL analytics on their sources.
Amount raised
Ahana, a cloud data lake services provider built around open-source Presto, has announced a $20 million Series A funding round led by Third Point Ventures. This capital injection brings Ahana’s total funding to over $25 million. The new funds will be used to expand the company’s growing product portfolio, deepen its competitive advantages and accelerate the availability of its core data platform offering for overwork customers globally.
This Series A round follows multiple announcements throughout 2020, demonstrating Ahana’s commitment to pushing boundaries in open source analytics and building tools that help data teams work faster and smarter. Founded in 2019, Ahana has grown quickly with products like Ahana Cloud for Amazon Web Services (AWS) Wavefront by VMware and Snowflake customers delighting in instant access to mission critical databases from within the same platform.
The funds from this round will give Ahana enough capital cushion to continue investing heavily in technology and product leadership. With its core offering already powering over 8M monthly jobs across hundreds of customers worldwide, outpacing notable industry incumbents like Impala and Apache Hive/Pig for performance, scalability, stability and predictable cost – Ahana is well positioned both technically and strategically for future success.
Led by Third Point Ventures
Ahana, a cloud data lake services provider built around open-source Presto, recently announced the company has raised $20 million in its Series A funding round led by Third Point Ventures. The round also included strategic investors such as adtech provider Stuzo, AI chip manufacturer Graphcore, and datacenter operator Rackspace. It follows a seed funding round earlier this year that collected about $4 million in venture capital from investors including Arc Labs and Firstminute Capital.
The new funds are expected to be used to accelerate product development of Ahana’s flagship data lake services product. This service enables data platform teams to provide SQL analytics on their data sources faster than traditional solutions. It also reduces costs by leveraging commodity public cloud compute resources such as AWS, Google Cloud Platform and Microsoft Azure. Additionally, portions of Ahana’s new investments will go towards expanding sales and marketing efforts to meet increased customer demand for the company’s products.
Benefits of Ahana’s services
Ahana is a cloud data lake services provider built around open-source Presto. Their services enable data platform teams to provide SQL analytics on their data sources. They have recently raised $20M in Series A funding led by Third Point Ventures.
This section will cover the benefits of using Ahana’s services.
Efficiency
Ahana’s cloud data lake service provides unparalleled efficiency and speed for SQL analytics, reducing the time it takes to write queries from days to seconds. This cutting-edge cloud data lake services platform allows users to unleash the value of their data by providing faster access and real-time insights. In addition, Ahana curates their experience with a wide range of features, such as cost-effective query optimization and performance profiling technologies, ensuring users receive productivity and accuracy gains in return for their investment.
With its interactive query editor, you can explore your data from Ahana’s interface. Additionally, it provides interactive visual analytics tools that allow users to quickly uncover relationships between datasets, access real-time insights on these relationships, and build robust dashboards that provide views into business metrics or data trends. Ultimately, this leads to improved decision making capabilities, better understanding of customer needs and personalization of services or products.
By eliminating unnecessary delays in insight gathering and simplifying workflow processes for teams or departments that focus on big data management or analysis—Ahana’s mission is guiding the way towards greater collaboration with customers backed by dependable SQL analytics available in mere seconds.
Cost-effectiveness
Ahana’s cloud-based data lake services offer a cost-effective solution for data platform teams looking to access, manage and analyse large volumes of datasets. By utilising open source technology such as Presto, they can deploy their analytics efficiently and cost-effectively.
Their services bring tremendous value to customers with significant storage requirements. In addition, their highly configurable solution provides the scalability and affordability needed for venture capital firms or startups that need solutions that can guarantee quick adoption and growth with limited resources. This is especially true for big data initiatives since the cost savings begin from day one, enabling users to rapidly ingest and analyse more data out of the gate than ever before possible.
The cloud computing model also helps users avoid hidden costs associated with local setups instead of cloud deployments — no need to worry about patching hardware, acquiring software licences or having specialised personnel for setup and maintenance — items that can quickly add up over time when done traditionally. Ahana’s services provide the flexibility needed so companies can save time and money without sacrificing quality or efficiency.
Improved scalability
Ahana’s service significantly improves data scalability with its cloud computing platform, providing an awesomely fast way to execute SQL queries across multiple data sources and clusters. Ahana’s enterprise-grade service is powered by Presto, an open-source distributed SQL query engine and allows businesses to gain lightning-fast insights. Furthermore, Ahana’s processing power enables 10x real-time faster queries than traditional business practices.
This substantial boost in scale enables businesses to quickly and efficiently analyse large amounts of data. Organisations can take advantage of faster scale in terms of storage savings and quicker access times, increasing revenues while minimising costs. The extremely low latency associated with the processing of big data results in almost instantaneous insights; empowering those organisations that are equipped with the technologies needed to leverage these opportunities: Ahana offers these technologies via their performance cloud products by greatly expanding the capacity of their resources required for efficient query answering and analytics tasks.
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