- Investment signals STTs focus on expanding existing capabilities toward contiguous emerging technology verticals
- Datameers unique and market-proven big data insights platform allows organisations to process raw data to critical insights seamlessly and rapidly
SINGAPORE, 18 August 2015 - ST Telemedia (STT), a Singapore-based global investor focused on building and growing innovative communications, media and technology (CMT) businesses, today announced its investment in Datameer, a big data analytics and visualisation company based in San Francisco, California.
STT is the lead investor in Datameer's US$40 million financing with Top Tier Capital Partners joining in. STT will be represented on the board of Datameer. Existing investors including Redpoint Ventures, Kleiner Perkins Caufield & Byers, Next World Capital, Citi Ventures and Software AG, will also participate in the current round of financing. Proceeds from this current round of financing will go into funding Datameer's growth initiatives across all business units and global expansion.
Datameer marks STT's first investment in big data and in key emerging technology verticals. It underscores the company's commitment to continually seek new growth opportunities, expand its capabilities toward next-generation platforms, and capture synergies within its global portfolio.
Growth in big data is gaining momentum with the rising number of enterprise and government organisations recognising their data as a critical strategic asset to drive business value and address complex national issues. Big data analytics is increasingly becoming a critical component of business strategy. The investment in Datameer will allow STT to participate in the attractive growth potential in big data while enabling Datameer to tap on STT's deep market insights, partnerships and existing portfolio businesses to accelerate its expansion in the Asia-Pacific region and globally.
Datameer was founded in 2009 with the aim of combining the power of Hadoop with a spreadsheet interface, enabling business users to easily run analytics against very large data sets, with no programming required. The company has demonstrated strong customer traction including with some of the world's leading financial institutions, telecommunications carriers and global companies.