GigaSpaces has developed the fastest Big Data processing and analysis platform. The company recently announced the completion of its $12 million funding series, led by Fortissimo Capital.
Process & analyze ‘hot’ data
GigaSpaces’ development allows organizations to apply their AI models while gaining insights from live data, and immediately react in less than a second. The company takes pride in its ability to analyze the data while it’s ‘hot’ without wasting time. This in comparison with competing solutions, which need to maneuver data between different operating and analytics systems, a process that drastically harms the analysis and reaction rate.
GigaSpaces was founded in 1999 by Nati Shalom, with CEO Adi Paz captaining the ship. Their current funding series is led by Fortissimo Capital, with existing investors further contributing- BRM Capital and Claridge Israel.
The company stated, that they are expecting a rise in demand for their solution due to the effects of the COVID-19 virus: “The world has experienced an exponential rise in use of digital services, stock trading volume, remote working, etc. In order for organizations to respond to these challenges, there is a need for them to incorporate advanced technologies that will allow them to meet the service and availability expectations of their customers.”
According to data provided by the company, it has more than doubled its subscription revenues, as well as the number of clients for its leading product. Making the first quarter of 2020, the company’s best ever.