Upsolver, a no-code startup that enables analytics on cloud data lakes, this morning announced that it raised $25 million in financing led by Scale Venture Partners. The company, which also today launched a free community edition of its product, says the funds will be used to hire engineers and scale its go-to-market efforts.
Enterprises are rapidly adopting the cloud — 68% of CIOs ranked migrating to the cloud as their top IT spending driver in 2020, according to a Deloitte survey. But building an analytics-ready cloud data lake can be complex and expensive. A recently published Statista report found that around 83% of cloud practitioners considered security, managing cloud spend, governance, and a lack of resources to be significant barriers to entry.