Chevy Chase-Based NEA Increases Investment in MapR Technologies
Chevy Chase, Maryland – New Enterprise Associates (NEA), a prime venture capital firm based in Chevy Chase and with offices in New York, India and China and has backed up more than 650 companies has increased its investments in MapR Technologies, provider of business solutions in the field of data analytics and the advanced Hadoop Apache data analytic platform.
New Enterprise Associate’s additional funding was due to the launching of MapR’s latest technology, the Hadoop Apache data analytic platform which was said to be the most advanced in the industry to date. The additional funding of NEA will be used by MapR to continue the scale of their operations and development of data analytic solutions.
The series B funding was also backed up by Lightspeed Venture Partners and was led by Red Point Ventures. New Enterprise Associates also participated in the first round of funding of MapR Technologies.
“We raised this round to further increase our technology lead, expand our commercial efforts and increase customer adoption,” said CEO John Schroeder.
NEA or New Enterprise Associates has been in the venture capital firm industry for 30 years now and has grown up to $11 Billion of capital through its more than 650 funded companies.
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