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Jut raises $20 million Series B funding to ride on top of big data arena

Jut raises $20 million Series B funding to ride on top of big data arena

11/13/2013 7:07 am0 comments

Jut, a San Francisco-based Stealth mode platform developer for enterprise software to handle big data is slated to be a new entrant in the big data industry. To make its way, Jut has secured $20 million in a Series B funding.

Jut is developing big data software for enterprises, in a round led by Accel Partners with LightSpeed Venture Partners and Wing, Jut has raised funds to expand its engineering team and to have the first version of its product hit the market.Jut big data VC funding

Jut, with the funding, hopes to provide technology to enterprises by which they will be able to deal with the avalanche of data – called big data. In event, Jut articulates a vision to ride on top of the big data arena.

It is believed, and Apurva Dave, vice President of Marketing at Jut professes, by 2016 big data will cost over $200 million in IT spending. This bulk spending will not only be on the infrastructure to store and maintain big data, but it will be a spending on acquiring services and products that will help derive meaning from this mammoth data.

Jut will provide enterprises with big data infrastructure that will help them store, analyze and derive meaningful insight from big data.

The funded capital will be utilized by Jut to expand its engineering team. The capital will also be used in order to bring the first version of its product to the market. Jut is developing a development-based company with open-source culture, which thrives on the concept of data-based decision making to provide answers to the hardest question of big data.

Director at HMPL, a digital media services company, Kamal Thakur is a computer science & engineering grad from NIT Jalandhar. He is a writer, ecommerce analyst and content marketing expert. Kamal lives in the Himalayas.

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