Dremio Acquisition, Valuation, Funding & Investors
Dremio was acquired by SAP in May 2026.
Dremio revenue
$200M
Series E · Jan 2022
Cumulative funding Dremio raised
$410M
across 6 funding rounds
Key investors in Dremio
Lightspeed Venture Partners
Norwest
Redpoint
Cisco Investments
Insight Partners
Sapphire Ventures
About Dremio
Dremio is a Santa Clara-headquartered data lakehouse platform built on Apache Iceberg, Polaris, and Arrow. It unifies data sources for enterprises like Amazon, Unilever, Shell, and S&P Global, enabling SQL queries without ETL processes. Developed by Apache Arrow creators, Dremio supports AI analytics and governed dataset creation through dremio.com.
Founded
2015
HQ
San Jose, CAWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$200M (Jan 2022)
Valuation
$2B (Jan 2022)
Dremio Acquisition
Dremio was acquired by SAP for an undisclosed price on 3 May 2026.
Before the acquisition Dremio had raised $410M across 6 funding rounds.
SAP SE agreed to acquire Dremio, an open, high-performance data lakehouse platform, on May 4, 2026. The acquisition terms were not disclosed. The transaction is expected to close in Q3 2026, subject to regulatory approval. Dremio's platform is designed to accelerate agentic AI and will complement SAP Business Data Cloud and SAP HANA Cloud offerings by enabling seamless data integration across SAP and non-SAP data sources to run analytical and AI workloads in real time. Dremio has raised $410 million across five funding rounds, with its most recent Series D in 2022 valuing the company at $2 billion and bringing in $160 million in capital. The acquisition is part of SAP's broader enterprise AI data strategy, announced alongside the acquisition of Prior Labs, a tabular foundation models developer for structured data.
| Acquirer | Date | Type |
|---|---|---|
| 3 May 2026 | Strategic M&A |
Dremio Valuation
Dremio is currently valued at $2B, based on its Series E in January 2022.
The $160M round was led by Adams Street Partners, with participation from StepStone Group, Cisco Investments, Geodesic Capital, Norwest, Lightspeed Venture Partners and 3 other investors.
Dremio's valuation has grown 25x from $80M at its Series B in January 2018 to $2B in January 2022, across 3 priced rounds.
Dremio valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2022 | Series E | $2B | 10.0x |
| Jan 2021 | Series D | $1B | - |
| Jan 2018 | Series B | $80M | - |
Dremio Revenue
Dremio's latest recorded revenue is $200M, as of its Series E in January 2022. At a $2B valuation, that implies a 10.0x revenue multiple.
Dremio revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2022 | $200M | $2B | 10.0x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Dremio Funding History
Dremio has raised a total of $410M across 6 funding rounds.
Dremio's first fundraising round was a $15M Series A in September 2015. The most recent completed round was a $160M Series E in January 2022.
Dremio funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series E | Adams Street Partners (lead); StepStone Group; Cisco Investments; Geodesic Capital; Norwest; Lightspeed Venture Partners; Sapphire Ventures; DTCP; Insight Partners | $160M | $2B | Dremio, a Santa Clara-based data lake transformation company founded in 2015, provides a SQL data lakehouse platform that enables enterprises to run mission-critical BI and interactive analytics at high speeds directly on data lake storage, querying modern open data architectures without vendor lock-in. The platform supports lightning-fast queries on cloud data lakes and works closely with partners like Amazon, Microsoft, and Tableau. Customers include major enterprises such as Samsung Electronics, General Motors, and Nutanix. On January 25, 2022, Dremio closed a $160 million Series E funding round led by Adams Street Partners, with participation from existing investors Sapphire Ventures, Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, and Cisco Investments, plus new investors StepStone Group and DTCP (also listed as Geodesic Capital in some contexts). This preemptive round doubled the company's valuation to $2 billion from $1 billion following the prior $135 million Series D in January 2021, bringing total funding raised to around $420 million across multiple rounds. The investment aims to accelerate technology innovation, expand the customer-facing organization including tripling sales capacity, contribute to open-source initiatives, educate data lake practitioners via events like the Subsurface conference, and grow internationally, particularly in Europe. Dremio reported doubling revenue for several years in a row and maintaining over 200% annual revenue growth rate, with rapid hiring from 80 employees in 2020 to nearly 400 by early 2022, alongside traction across verticals and enterprise adoption. This round positions Dremio for hypergrowth amid market momentum toward cloud data lakes and lakehouses replacing traditional data warehouses, empowering data teams to deliver faster insights, self-service analytics, governance, and security while reducing infrastructure costs. |
| Jan 2021 | Series D | Sapphire Ventures (lead); Redpoint; Cisco Investments; Norwest; Lightspeed Venture Partners; Insight Partners | $135M | $1B | Dremio is a self-service data analytics platform specializing in data lake transformation, enabling enterprises to query, transform, and analyze data directly in cloud storage like Amazon S3 without traditional data warehouses. The company integrates with tools such as Power BI and Tableau, providing governance, security, and scalability for modern data ecosystems. In January 2021, Dremio raised $135 million in a Series D funding round led by Sapphire Ventures, with participation from Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, Redpoint Ventures, and Cisco Investments, bringing total funding to $250 million and valuing the company at $1 billion, achieving unicorn status. This preemptive round followed a $70 million Series C in March 2020 led by Insight Partners. The investment aimed to expand engineering centers globally, grow customer-facing teams, contribute to open-source projects, and educate data lake practitioners. Dremio reported breakout velocity, including doubling revenue, customer count, and employee numbers in the prior year, though specific revenue figures were not disclosed. CEO Billy Bosworth highlighted simplification of data workflows, while Sapphire's Anders Ranum praised Dremio's reimagining of cloud data lakes. Customers included enterprise names like UBS, NCR, TransUnion, Henkel, KKR, Swiss Re, FactSet, and Nutanix. The platform addressed debates in cloud computing on analyzing data in place versus moving it to warehouses. About a year later in January 2022, Dremio raised $160 million in Series E at $2 billion valuation led by Adams Street Partners, continuing momentum with partners like Amazon, Microsoft, and Tableau. |
| Mar 2020 | Series C | Insight Partners (lead); Redpoint; Scale-Up; Cisco Investments; Norwest; Lightspeed Venture Partners | $70M | - | Dremio is a data lakehouse platform that enables enterprises to query, transform, and analyze large pools of raw data directly without copying, supporting data stored across multiple clouds, on-premises, or other databases. The company provides performance, security, governance, and scalability features for modern enterprise software ecosystems, with integrations from partners like Amazon, Microsoft, and Tableau. Customers include UBS, NCR, and Henkel. In March 2020, Dremio raised $70 million in its Series C funding round led by Insight Partners, with participation from Cisco Investments, Lightspeed Venture Partners, Redpoint Ventures, and Norwest Venture Partners. The funds were intended to enhance cloud-native data services and support global operations expansion. Post-round traction included doubling revenue, customers, and employees over the following year leading into the January 2021 Series D. The Series D raised $135 million led by Sapphire Ventures, achieving a $1 billion valuation, with the same investor group participating. Subsequent rounds included a $160 million Series E in January 2022, doubling valuation to $2 billion, amid continued revenue doubling and workforce growth. Dremio has raised approximately $405-420 million total across six rounds. Dremio competes in the data analytics and lakehouse space, aiming to accelerate AI-driven analytics and strengthen integrations with platforms like Snowflake and Databricks while growing its open-source community. The company, founded in 2015 and headquartered in Santa Clara, CA, continues to focus on enterprise adoption and global engineering expansion. |
| Jul 2018 | Series B | Cisco Investments (lead) | $5M | - | - |
| Jan 2018 | Series B | Norwest (lead); Redpoint; Lightspeed Venture Partners | $25M | $80M | Dremio, founded in 2015, is a self-service data company providing a platform that empowers data consumers like business analysts and data scientists to access and query data independently from any source at scale using familiar tools, disrupting traditional data analytics approaches. Dremio's team comprises veterans from big data and open source firms like Hortonworks, MongoDB, and MapR. The platform leverages Apache Arrow for efficient data handling. Dremio positioned itself against legacy data warehouses by enabling direct queries on data lakes without data movement. On January 23, 2018, Dremio closed a $25 million Series B funding round led by Norwest Venture Partners, with participation from existing investors Lightspeed Venture Partners and Redpoint Ventures, bringing total funding to $40 million. The investment aimed to expand engineering and sales teams and increase international reach, serving customers including Daimler, OVH, Quantium, and TransUnion across the US, Europe, Asia, and Australia. The round occurred at an $80 million pre-money valuation, as reported in a DC Advisory market update. This Series B built on prior funding from Lightspeed and Redpoint. Later rounds included a 2021 Series D and 2022 Series E at $2 billion valuation, but details confirm the 2018 investors and leadership match the query. |
| Sep 2015 | Series A | Lightspeed Venture Partners (lead); Redpoint (lead) | $15M | - | Dremio, founded in 2015, is a data lakehouse platform developer providing data analytics solutions for enterprises. The company has raised funding from investors including Lightspeed Venture Partners and Redpoint Ventures in early rounds. |
Who has invested in Dremio?
11 investors have backed Dremio across its funding rounds, including Lightspeed Venture Partners, Norwest, Redpoint, Cisco Investments, Insight Partners and Sapphire Ventures.
Lead investors include Adams Street Partners, Sapphire Ventures, Insight Partners, Cisco Investments, Norwest and 2 other investors.
Dremio Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 5 | Lead | Sep 2015 | |
| San Francisco, CA | 4 | Lead | Sep 2015 | |
| United States | 4 | Lead | Jul 2018 | |
| San Francisco, CA | 4 | Lead | Jan 2018 | |
| New York City, NY | 3 | Lead | Mar 2020 | |
| Austin, TX | 2 | Lead | Jan 2021 | |
| Chicago, IL | 1 | Lead | Jan 2022 | |
| San Francisco, CA | 1 | Participant | Mar 2020 | |
| New York City, NY | 1 | Participant | Jan 2022 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialDremio Competitors
Dremio competitors include listed companies like Business-intelligence and Transwarp, and private ones like Devo, Druva, Neo4j and Redis.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Private | - | - | $2B | - | |
| San Jose, CA | Private | $100M | - | $2B | 20.0x | |
 Malmo | Private | $200M | - | $2B | 10.0x | |
| San Francisco, CA | Private | $35M | - | $2B | - | |
 China | Publicly listed | $389M | $54M | $2B | 5.9x | |
| China | Publicly listed | $67M | ($31M) | $1.9B | 28.0x |
Dremio Public Comps
Dremio is no longer listed, but its public comps include Business-intelligence, Transwarp, TRS Information Technology, Teradata, e-Hualu, Dameng Database, BTQ Technologies, Zhongfu Information, Datavault AI and Asteria.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $389M | $54M | 6.6x | 5.9x | 47.7x | - | |||
| $67M | ($31M) | 27.5x | 28.0x | (59.8x) | - | |||
| $76M | ($20M) | 19.3x | 19.7x | (73.5x) | 478.8x | |||
| $1.7B | $285M | 1.4x | 1.5x | 8.4x | 5.3x | |||
| $69M | ($310M) | 24.1x | - | (5.4x) | - | |||
| $195M | $84M | 15.3x | 12.5x | 35.5x | 27.6x | |||
| $226K | ($18M) | 1720.6x | 266.9x | (21.8x) | - | |||
| $108M | $1M | 3.4x | 2.7x | 359.0x | - | |||
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Common questions about Dremio
| When was Dremio founded? | Dremio was founded in 2015. |
| Where is Dremio headquartered? | Dremio is headquartered in San Jose, CA, United States. |
| Is Dremio publicly listed? | No, Dremio was acquired by SAP in May 2026. |
| Who acquired Dremio? | Dremio was acquired by SAP in May 2026. |
| What is Dremio's valuation? | Dremio was last valued at $2B in its Series E in January 2022. |
| How much funding has Dremio raised? | Dremio has raised $410M across 6 funding rounds. |
| What was Dremio's last funding round? | Dremio's last funding round was a $160M Series E in January 2022, led by Adams Street Partners. |
| Who are Dremio's investors? | Dremio's investors include Lightspeed Venture Partners, Redpoint, Cisco Investments, Norwest, Insight Partners, Sapphire Ventures, Adams Street Partners, Scale-Up, StepStone Group, Geodesic Capital and 1 other. |
| What is Dremio's revenue? | Dremio's latest recorded revenue is $200M (January 2022). |
| What is Dremio's revenue multiple? | Dremio's latest valuation implies a 10.0x revenue multiple ($2B valuation on $200M of revenue). |
| Which companies are comparable to Dremio? | Companies comparable to Dremio include Devo, Druva, Neo4j, Redis, Business-intelligence and Transwarp. |
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