Temasek-linked company ST Telemedia (STT) has made its foray into the big data analytics market by taking a stake in US-based firm Datameer for an undisclosed amount.
In a statement on Tuesday (Aug 18), STT said it is the lead investor in Datameer’s US$40 million (S$56.15 million) current round of financing and will be represented on the company’s board. Among the other existing investors that will participate in this current round of financing are Redpoint Ventures, Kleiner Perkins Caufield & Byers, Next World Capital, Citi Ventures and Software AG.
Recently, consulting firm IDC forecast that the big data technology and services market will grow at a 26.4 per cent compound annual growth rate to US$41.5 billion through 2018.
Meanwhile, Frost & Sullivan expects the global big data market to reach US$122 billion in revenue by 2025 and the global data traffic will cross 100 Zettabytes annually by 2025.