Security News > 2021 > July > Treeverse raises $23M to improve lifecycle management of data lakes

Treeverse announced $23 million in funding to date, which will further accelerate the development and adoption of the innovative solution designed for any enterprise data team tasked with managing petabytes or more of data in one shared system.

"We're most proud of how lakeFS elegantly solves the file system challenge for data lakes of exponential size and how the growing community around it is involved in finding new ways to leverage lakeFS to improve their data workflows. We plan to use this round of funding to perfect the open-source core capabilities and build a SaaS offering over it that allows fast creation of predefined workflows that are essential for managing an ever-growing amount of data within every enterprise."

Meeting the challenge of storing and processing big data is a primary task of CTOs, data engineers, machine-learning developers, and data ops professionals; however, a greater and still-growing challenge is how to actually manage an ever-increasing mass of data.

"LakeFS brings a unique approach that addresses the needs of modern data engineers struggling with big data lifecycle management. Our investment is a testament to the belief that Treeverse will transform the way data teams work together on improving data workflows."

"LakeFS is bringing revolutionary capabilities to enterprise data teams across a wide variety of global industries. In our research, we found point solutions but didn't encounter another company focusing on the need data engineers have in managing the data lake integrity-how to ensure consistency, reproducibility, understand dependencies, and guarantee data quality," said Dror Nahumi, General Partner, Norwest Venture Partners.

The lakeFS's open-source base encourages data engineers to participate in designing the solution to meet the data needs of their businesses, as well as those of the community of data professionals worldwide.

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