Euroventures invests in big data



Budapest, 25 September 2014 — Euroventures today announced that through its JEREMIE investment program, Euroventures IV, it is funding Budapest technology start-up SequenceIQ.

SequenceIQ will democratise access to the world of big data with cost effective and innovative products that dramatically increase the speed and decrease the cost of organising huge amounts of data over different platforms, and of processing that data to provide actionable insights to all parts of a business.

The reason SequenceIQ’s platform as a service is such a step change in the world of big data is that it uniquely combines the features of being open source, cloud agnostic, auto-scaling and Docker container-based.  This vastly simplifies and increases access to big data processing capability.

SequenceIQ has already released open source public beta versions of two products – Cloudbreak and Periscope – and has “Dockerized” the whole big data ecosystem. Details are available on its website (see below).

These existing products are being developed and SequenceIQ is working on a range of further projects.  Euroventures’ investment will be used to hire more staff, broaden the company’s technology stack and expand into the US.

The size of Euroventures’ investment was not disclosed. SequenceIQ is the sixteenth investment of Euroventures IV. 

About SequenceIQ

SequenceIQ was founded by János Mátyás (CTO) and Lajos Papp. Both previously worked with Fathom Technology, also a Euroventures investment at the time.  Fathom later merged with EPAM Systems, Inc. (NYSE:EPAM), and they stayed with EPAM until 2014 based in its European headquarters in Budapest.


About Euroventures

Euroventures is one of the longest-established and leading independent private equity and venture capital firms in Central Europe. It has advised/is advising four investment programmes since 1989. Euroventures invests in private companies in exciting industries, with the goal of helping management teams build their businesses into great global companies. This mission has been at the heart of Euroventures' approach to investing, and its around 40 current and former portfolio companies illustrate its commitment to provide steady support through the cycles of the regional economy. Euroventures won the mandate to manage the Co-Investment Fund of the JEREMIE Program of the EU in 2009. The HUF 4 billion of shared capital was matched with an additional HUF 3.1 billion by the Swiss Government Contribution in 2011.