Israeli startup Varada.io, which operates in the Big Data Inline Indexing industry, announced a $12 million Series A funding round. The investment was led by MizMaa Ventures, and saw participation from existing investors Gefen Capital, as well from StageOne Ventures, Lightspeed, and F2 Venture Capital.
Added ML to better utilize your data
Large organizations create an enormous amount of data, which needs to be analyzed and optimized to stay one step ahead of their competitors, alongside the data security necessities. While the Big Data market has been moving towards Data Lake solutions, Israeli startup Varada has gone a different route by developing a data virtualization platform, enabling organizations high performance, full access and control over its data.
Instead of building expensive and sophisticated systems to help extract the target data, Varada provides Inline Indexing technology: the analysis phase enables customized data settings at any volume, which allows immediate analysis of the data via queries or BI tools. The company’s Presto based system is easily deployable in common clout infrastructure like AWS, while also ahearing to the GDPR strict regulations. Forget waiting months for data modules and ETL development, as the company claims that its product provides flexibile and real-time data analysis.
CEO Eran Vanounou told Geektime that recently the company had added to its system machine learning capabilities that automate the prioritization and acceleration of relevant queries. Vanounou explains that “the company’s product can identify which queries to thrust forward and which indexes are optimal. These zero-data-ops capabilities free up data teams to serve a broader range of business demands without the usual continuous workload involved.”
According to Vanounou, Varada’s day-to-day operations hadn’t changed all that much following the outbreak of the Coronavirus. “Except adjusting to working from home a bit more, the company continued operating as usual but at a faster pace. The teams got use to work-from-home reality, and we continue to meet at the offices often to keep the momentum going.” Varada was founded in 2017 by Chief Architect Tal Ben Moshe, VP R&D Roman Vainbrand, and CTO David Krakov. The company reports that incoming funds will be put towards business and product development.