Success stories

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Take a deeper look at some of the companies with successful exits.

Leading edge big data processing solutions

SequenceIQ helped enterprises in deploying Hadoop (big data software framework) environment easier and faster. The company developed APIs on top of Hadoop that abstract the need to understand the complexity of big data, and other building blocks of the Hadoop ecosystem. SequenceIQ’s APIs allowed non-Hadoop developers to implement Hadoop and to aggregate their data, run automated analytics, configure a data driven pipeline and business process and set up rules to react to external events, data patterns or manually triggered data in and out-flows. It also had a large number of prebuilt machine learning algorithms.

COUNTRY

Hungary

INVESTED

€ 0.25 million

FIRST INVESTED

2014

EXITED

2015

Investment rationale

The first-class software engineering team and the key founder were already active in the open source community in some highly specialized aspects of the Hadoop world. The evangelising blog posts of the founders generated remarkable buzz and led to various invitations to events. Euroventures invested at the very inception of the company as we saw the exceptional expertise of the team in an exciting space (Hadoop, big data). Even without a product on the market the company demonstrated a high level of customer interest.

Growth

The technological advances and the growth of the team size continued however serious strategic interest in acquiring the company started to show already after half year after the initial investment. The particular feature which caught the attention of the strategic acquirers was tools to auto-scale Hadoop clusters, difficult to achieve and hugely beneficial in terms of time saving.

Given the short holding period most of our input was in the form of detailed support in exit negotiations, including generating credible competing offers.

Exit

Strategic acquirer Hortonworks, at the time one of the two largest Apache Hadoop developers, and later merged with the other large firm Cloudera, was attracted to SequenceIQ both for its talent pool, probably unmatched in Europe at the time in this specific area, and by the strong relationships it was already forging with potential customers. Another potential acquirer also expressed an interest, but the team felt the product would be better supported to completion and roll-out by Hortonworks. 100% of the company’s shares were sold in the transaction.

SequenceIQ became the R&D hub of Cloudera (former Hortonworks) within Europe in Budapest.

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