WEKA, a data platform for enterprise AI workloads and high-performance applications announced that they have just raised $73 million in a funding round led by Hitachi Ventures. Other investors participating in this round were Hewlett Packard Enterprise, NVIDIA, Micron, and Digital Alpha, MoreTech Ventures, Ibex Investors, and Key 1 Capital.
Since most of the Global 1000s are integrating AI and Machine Learning practices and technology into their core business processes, we’re seeing the Enterprise AI market developing at staggering rates. WEKA is meeting the market needs with its high-performance, scalable data platform that enables data-driven organizations to speed up research, analytics, and other data-intensive applications; WEKA’s distributed file solution to support modern GPU workloads, high-performance data analytics, Artificial Intelligence, and Machine Learning help make faster and more accurate decisions from data, which allows companies the ability to produce outcomes faster, that accelerate time-to-market and provide a competitive edge.
With the most recent round of funding, the company plans to accelerate go-to-market activities, operations, and engineering. This past year, WEKA has seen tremendous customer velocity delivering more than 2 times the annual recurring revenue, more than %125 growth in new customers and has also been deployed in 18 new countries.
“WEKA’s unique unified software solution addresses the demands of operating in large, data-intensive environments to unlock the full potential of Artificial Intelligence and Deep Learning for Fortune-500 customers in finance, healthcare, life sciences and GPU-enabled environments,” said Zack Keinan, Founding Partner of MoreTech Ventures. “With the explosion of unstructured data and the migration of AI workloads from on-prem to cloud, WEKA is delivering what its customers need better than anyone – a Data Platform for AI with unlimited scale and unrivalled performance.” Danny Akerman, Founding Partner of Key 1 Capital continued by saying, “WEKA’s technology is a ground-breaking one, particularly in the high-performance computing and AI/ML space. Its software-defined storage approach is unique and has proven invaluable in rapidly expanding its customer base and accelerating top-line growth. We are delighted to join WEKA’s strong investor base and management team at this transformative time in the company’s life.”
WEKA was founded in 2014 by Liran Zvibel, Maor Ben Dayan and Omri Palmon. They have raised a total of $140 million.