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Dremio

Data lakehouse software / AI data platformUSA
New to Unitard
🤝 Acquired
Peak $2 BillionToday
~-71%
from peak
  1. 🦄
    Became a unicorn
    Jan 2021
  2. 📈
    Peak valuation
    $2 Billion ’22
  3. 💔
    Became a Unitard
    Jul 2026
  4. 💸
    Last valuation
    ~$570M
Current status
Acquired by SAP (announced May 4, 2026; closed July 6, 2026) for undisclosed terms; SAP reported cash consideration of about €0.5B; now part of SAP Business Data Cloud

The rise & fall

8 moments · 2015–2026

The key moments, with employee sentiment along the way.

2015
Founded by Tomer Shiran and Jacques Nadeau
The two co-founders, fresh from MapR, start building a query engine for data lakes; Redpoint Ventures backs the 2015 Series A.
Redpoint
Feb 13 ’20
Former DataStax CEO Billy Bosworth takes over as CEO
Bosworth, on the board since July 2019, becomes CEO; founder Tomer Shiran moves to chief product officer.
Dremio
Jan 6 ’21
$135M Series D at a $1B valuation$1B
Sapphire Ventures leads, with Insight Partners, Lightspeed, Norwest, Redpoint and Cisco Investments; Dremio becomes a unicorn.
Cooley
Jan 25 ’22
The peak: $160M Series E doubles the valuation to $2B$2B
Adams Street Partners leads; StepStone Group and DTCP join existing backers Sapphire, Insight, Lightspeed, Norwest and Cisco Investments.
Dremio
Jul 5 ’23
Former Splunk executive Sendur Sellakumar named CEO
The post had been open since Bosworth left in February 2023; Sellakumar ran Splunk's cloud business and is charged with Dremio's own shift to the cloud.
Dremio
May 4 ’26
SAP agrees to buy Dremio; terms not disclosed
Announced the same day as SAP's purchase of Prior Labs; Dremio is to make SAP Business Data Cloud an Apache Iceberg-native lakehouse.
Dremio
Jul 6 ’26
SAP closes the deal at ~€0.5B in cash — joins the Unitard Club 💔$571M
SAP's half-year report puts the cash paid at about €0.5B (~$571M at the ECB rate), the 'main portion' of the price; the rest is not disclosed.
SAP 6-K
From the inside · Glassdoor reviews, 2023–26
Glassdoor reviews cooled after 2022: employees described frequent shifts in direction and leadership turnover, and some criticized the handling of layoffs around the start of 2023. Average ratings moved from 4.4 (2020–22) to 3.7 (2023–26).

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

Dremio, founded in 2015 by former MapR engineers Tomer Shiran and Jacques Nadeau, built a data lakehouse platform that lets companies query data where it sits. It also contributed to open-source projects such as Apache Arrow and Apache Iceberg. A $135M Series D led by Sapphire Ventures valued it at $1B in January 2021.

A year later Adams Street Partners led a $160M Series E that the company said doubled its valuation to $2B. SAP agreed to buy Dremio on May 4, 2026, without disclosing terms, and closed the deal on July 6, 2026.

SAP's half-year report put the cash consideration at about €0.5B, roughly $571M at that day's exchange rate, and called it the main portion of the price.

Source: Cooley (Jan 22, 2021): $135M Series D led by Sapphire Ventures at a $1B valuation. Dremio release (Jan 25, 2022): $160M Series E led by Adams Street Partners, valuation doubled to $2B. Dremio/SAP release (May 4, 2026): SAP to acquire Dremio, terms not disclosed. SAP H1 2026 interim report (SEC 6-K ex99-2, filed July 28, 2026), Note G.3: deal closed July 6, 2026; cash consideration transferred about €0.5B, described as the main portion of the consideration, with initial accounting incomplete; converted at the ECB reference rate of 1.1415 USD/EUR for July 6, 2026 = about $571M, the figure the drop is keyed to (non-cash remainder not disclosed). NPORT-P: Adams Street marked its Series E preferred 8.52 to 8.43 per share (split-adjusted) through June 2026, consistent with a sale in which preferred is repaid by its preference.

Founders & leadership

  • Billy Bosworth
    CEO (Feb 2020–Feb 2023, led at peak)
    LinkedIn ↗
  • Tomer Shiran
    co-founder, founding CEO & chief product officer
    Still there — Founder and CEO/CPOLinkedIn ↗
  • Jacques Nadeau
    co-founder & CTO
    Now Co-Founder at colony2.comLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-10-22. See our methodology.

Disclosed investors (11)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-22 · Methodology · Leaderboard

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