Most likely your organization has loads of unused data just sitting in “storage”. Israeli startup, SQream, offers a resourceful solution to all that dead weight. The company claims that they can analyze all the stored data, offer deep insight, and turn that unwanted dead weight into a profitable endeavor. Just recently, SQream announced a surprising Series B+ funding round, bringing in almost $40 million in funding, led by Mangrove Capital and Schusterman Family Investments, which are added to the company’s already impressive list of investors, including existing investor Alibaba Group Hanaco Venture Capital, Sistema VC, World Trade Center Ventures, Blumberg Capital, and Silvertech Ventures.
SQream created a SQL database analytics platform that harnesses the power of GPU (graphics processing unit). While speaking to Geektime, CEO Ami Gal expands on the company’s latest developments: “SQream broke acceleration rates of massive data analysis in SQream DB’s 2020.1 version, including easy integration with Hadoop and other data warehouses. The released version enables accelerated analysis of Big-Data, reduces query times by 80%, as well as shortening machine-learning and AI processes, resulting in rapid response times for massive data stores.”
We weren’t planning on a funding round, but…
According to Gal, the original plan was a Series C round towards the end of 2020, but as the offers came in from both new and existing investors wanting to join the board and in light of the company’s fast pace growth, it was decided that the offers were just too good to pass up on. SQream decided to take advantage of the Series B+ capital to accelerate development, recruit more talent, accelerate business growth at data centers and in the cloud.
Gal also revealed that the round began “on the eve of the COVID-19 crisis and continued well into it.” Gal explained that at the beginning the deal was riddled with fear and difficulties, with most of the process being done by remote. “It was a new experience for all of us,” he admits. Though, even with the crisis threatening over their heads, Gal tells that the investors showed flexibility and determination to get the deal done: “We all understood that this is a new reality, where our technology becomes even more relevant and important in the long run.”
SQream was founded in 2010 by CEO Ami Gal; CTO Razi Shoshani; and former CTO Kostya Varakin. The company’s talented numbers 83 employees, with 65 of them based at the company’s offices in Israel.