Onehouse Raises $35M Series B Led by Craft Ventures, With Participation From Addition and Greylock

SUNNYVALE, Calif., June 26, 2024 (Newswire.com) - Onehouse, the Universal Data Lakehouse company, today announced it has secured $35 million in Series B funding led by Craft Ventures. Existing investors Addition and Greylock Partners participated in this new round, bringing total funding to date to $68 million.

“This round of funding is a tremendous validation of the Onehouse mission to make data truly open and interoperable for every organization,” said Onehouse CEO and Founder Vinoth Chandar. “I’m excited by the support from Craft Ventures, Addition, and Greylock, which will help us accelerate the development of our fast cloud data lakehouse platform built with universal data interoperability at its core.”

"Onehouse enables organizations to deploy a lakehouse in a matter of minutes – a critical function as the data lakehouse has become the standard architecture to centralize data and power new services like real-time analytics, predictive ML, and GenAI,” said Michael Robinson, partner at Craft Ventures. "One day, every organization will be able to take advantage of truly open data platforms, and Onehouse is at the center of this transformation.”

Onehouse provides the industry’s most open and interoperable lakehouse with support for the three leading table formats, Apache Hudi, Apache Iceberg, and Delta Lake, and with multi-catalog sync across all major cloud data warehouses and lake query engines. Onehouse allows users to ingest at scale with minute-level freshness, transform data incrementally, and keep tables automatically optimized for performance. Onehouse is delivered as a fully-managed cloud service that allows every organization to deploy a lakehouse with minimal engineering efforts.

With this financing, Onehouse is launching two new products designed to increase lakehouse performance and reduce cloud storage and processing costs by an order of magnitude. The two new solutions are:

• Onehouse LakeView: A free cloud service that provides monitoring and insights to help data engineers manage and operate data lakehouse tables. Onehouse LakeView includes:
  • Observability into lakehouse features such as table stats and trends, timeline history, partition skews, file size distribution, and compaction performance.
  • Alerts to proactively identify issues and inefficiencies in table management.
  • Reports for regular updates on trends, new tables, and potential issues in the data lakehouse.
• Onehouse Table Optimizer: A managed cloud service that optimizes existing tables to  accelerate data ingestion and ETL for up-to-the-minute freshness, and increase query performance by up to 10x. Onehouse Table Optimizer includes:
  • Intelligent incremental clustering to make it more efficient to query your data.
  • Async compaction of small files to make writes more efficient.
  • Advanced cleaning to decrease storage costs by removing old data already committed to a table and beyond time-travel retention policies.

Both solutions support Apache Hudi, with planned support for Apache Iceberg and Delta Lake. Organizations using Onehouse Table Optimizer with Snowflake and Iceberg can achieve up to 2X faster query performance compared to ingesting data into external Iceberg tables for Snowflake.

“Onehouse LakeView is a useful tool for monitoring our Apache Hudi tables,” said Joy Lal Chattaraj, Staff Engineer at Cohesity.

"With Onehouse LakeView, we get all the observability tools we wanted to build for Hudi, without the effort," said Shravana Krishnamurthy, Director of Engineering at Cardlytics.

"Onehouse LakeView is an easy and useful solution for monitoring lakehouse tables through a comprehensive user interface,” said Soumil Shah, Data Engineer Team Lead at JobTarget.

With today’s announcement, Onehouse now allows organizations at any skill level and resources to deliver maximum value with their data lakehouse by providing insights into existing pipelines and tables, auto-optimizing those tables, and building pipelines in the fully managed Onehouse platform.

Additional Resources:

• Onehouse Blog: https://www.onehouse.ai/blog/series-b
• LakeView product: https://www.onehouse.ai/product/lakeview
• Table Optimizer product: https://www.onehouse.ai/product/table-optimizer
• Product launch webinar: www.onehouse.ai/webinar/introducing-onehouse-lakeview-and-table-optimizer

About Onehouse:

Onehouse was founded in 2021 by data lakehouse pioneer Vinoth Chandar, who built the first data lakehouse in 2016 at Uber. Today Onehouse delivers the data lakehouse in minutes as a fully managed, cloud-based service, and provides solutions for companies to manage their own data lakehouses more efficiently. Since bringing its Universal Data Lakehouse platform to market last year, Onehouse has established key partnerships with industry leaders, including Amazon Web Services and Confluent. The company is backed by Craft Ventures, Addition, and Greylock Partners. For more information, please visit https://onehouse.ai or follow @Onehousehq.

Source: Onehouse