WEKA Raises $135M to Fuel Hypergrowth and Global Expansion


WekaIO (WEKA), the global data platform provider for next-generation workloads, announced today that it raised $135 million in an oversubscribed Series D funding round led by Generation Investment Management. Several notable new and existing investors also contributed, including 10D, Atreides Management, Celesta Capital, Gemini Israel Ventures, Hewlett Packard Enterprise, Hitachi Ventures, Key1 Capital, Lumir Ventures, Micron Ventures, Mirae Asset Capital, MoreTech Ventures, Norwest Venture Partners, NVIDIA, Qualcomm Ventures, and Samsung Catalyst Fund. Despite recent volatility and uncertainty in the global financial markets that have widely impacted startup valuations and investments, the company also doubled its previous valuation in the round.

The new funding will enable the company’s continued investment in developing the WEKA® Data Platform to expand its features and cloud integrations, support new use cases, and accelerate the delivery of innovative solutions to its customers. It will also allow WEKA to reach profitability, fuel significant global expansion, and rapidly scale its cloud, customer success, sales, marketing, operations, and human resources teams.

“In 2013, WEKA set out with a bold vision to create a fundamentally new approach to managing and storing data that could power the possibilities of the future by eradicating the compromises of the past,” said Liran Zvibel, co-founder and CEO of WEKA. “This funding round represents a tremendous milestone in realizing that vision, and we are grateful to our new and existing investors for their support. The new capital will allow us to invest in our product and go to market, maintain hypergrowth, and give us the runway we need to become a profitable, independent company.”

Generation’s investment in WEKA is part of its Sustainable Solutions Fund IV, which conducts deep research into innovative ‘green data’ companies that are helping to address the rapid increases in energy consumption associated with the exponential growth of data and modern data management environments. Today, the world’s data centers are responsible for roughly two percent of its total energy consumption – equivalent to the energy use of the entire continent of Australia. By 2030, without intervention, they may account for eight percent or more, as next-generation workloads like artificial intelligence (AI), machine learning (ML), and high-performance computing (HPC) increase energy and resource demands.

“AI and machine learning applications fuel sustainable advancements like autonomous cars and intelligent manufacturing. However, these workloads demand massive volumes of data and computing power. Today, much of that power is wasted, sitting idle due to bottlenecks in the data pipeline,” said Dave Easton, a Growth Equity Partner at Generation Investment Management. “We believe WEKA is a leader in the growing green data movement, helping some of the world’s best companies drastically improve their performance while providing the potential to avoid millions of tons of carbon. The WEKA Data Platform enables 10-100x performance gains for AI/ML workloads so customers can get the most out of their data, whether operating on-premises, in the cloud, or hybrid and multicloud configurations.”

WEKA’s Series D capital raise comes hot on the heels of an unprecedented time of growth, gains, and expansion for the company. Last month, WEKA was recognized as a Visionary for a second year in the 2022 Gartner Magic Quadrant for Distributed Files Systems and Object Storage. In September, it closed a record third quarter that exceeded its entire fiscal year 2021, achieving:

  • 255 percent net dollar retention (NDR) while maintaining a zero-churn business
  • 250 percent attainment against its Q3 financial plan
  • 635 percent total contract value (TCV) growth
  • 232 percent annualized run rate (ARR) growth
  • 43 percent of Q3 customer transactions were deployed in the cloud
  • Significant expansion into the Asia Pacific region and beyond

“The volume and diversity of investors joining WEKA’s Series D round are impressive for a reason. The need to unleash the potential of next-generation workloads has never been greater,” said Jonathan Martin, president at WEKA. “WEKA is winning the trust of leading global enterprises and research organizations because our platform can solve their data challenges without trade-offs and be an impact accelerator for their creativity and vision.”


Thunes Announces Senior Hires to Lead Key Regions and Ramp up Global Expansion


Thunes, a global cross-border payments company, today announced that it has appointed four new senior executives to lead its business in strategic regions: Asia Pacific, the Americas, Middle East and North Africa, and Greater China. These key hires come as part of Thunes’ global strategy to further expand its global presence, deepen relations with local markets and localise its sales, product, and network capabilities.

“We have been ramping up our efforts to piece together a best-in-class team and solidify our leadership globally. The company is now in a position to take on new challenges with an expanded leadership team. We have added four highly talented regional Senior Vice Presidents (SVPs) to complement the strong leadership we already have in Africa and Europe, who together will accelerate our growth of Thunes across the different regions where we operate. And I’m glad to highlight that half of our global SVPs now are women, as diversity in the workplace can only strengthen us as a company,” said Aik Boon Tan, Chief Commercial Officer of Thunes.

Jenna Wyer, SVP for the Americas

Based in the US, Jenna has over a decade of experience as an executive leader and consultant in the mobile payments and e-commerce space. Her past roles include leading Business Development, Partnerships & Payments at Recurly, and being the founding Vice President of Sales at Braintree, where she secured deals with their largest merchants, including Uber, Airbnb, and HotelTonight.

Simon Nelson, SVP for the Middle East and North Africa (MENA)

Simon has over 20 years of leadership experience in the payments industry and is based in Dubai. Before joining Thunes, Simon was most recently the CEO of Mercury, the domestic scheme in the UAE. Previously he was SVP for the Payment Processing arm of Network International and led the growth of that organization. Prior to that he built out his career in a variety of leadership positions in American Express and GE Money.

Biren Zandani, SVP for Asia Pacific (APAC)

Biren, based in Singapore, is a recognised payments expert with over 20 years of experience in financial services, particularly B2B, B2P, and P2P payments. Before joining Thunes, Biren was the Head of APAC at Transfast, a Mastercard company, where he was in charge of generating revenue and establishing robust network partnerships. He was also the Head of Business Development & Network Management for SEA & ANZ at Earthport (now Visa Direct). Prior to that he held several leadership roles in Banking, he was the SVP for APAC at the Bank of America Merrill Lynch, and the Executive Director for ThailandVietnamLaos, and Cambodia at J.P. Morgan.

Daphne Huang, SVP for Greater China

Daphne, based in Beijing, brings in over two decades of sales, business development, banking, and fintech experience. Before joining Thunes, she was the Head of China for SWIFT, where she spearheaded its strategic and business development initiatives. She was also the CEO and General Manager of Cross-Border Financial Information Services, a joint venture limited company owned by SWIFT, the China National Clearing Centre, Cross-border Interbank Payment System Co Ltd, the Payment & Clearing Association of China, and the PBOC Digital Currency Institute.