Edge Intelligence, a Boston-based analytics platform company, has raised $3 million in funding led by Talis Capital. Edge Intelligence is known as being the developer of the first geographically distributed analytics platform for hybrid cloud environments and edge computing platforms.
Some of Edge Intelligence’s existing investors include Yahoo co-founder Jerry Yang, Sun Microsystems co-founder Scott McNealy, Morado Venture Partners, and Wellington Partners. With this funding round, Edge Intelligence plans to invest in building out its sales, marketing, and support functions along with expanding its product portfolio.
What does Edge Intelligence do? It has a centralized management and analysis solution of geographically distributed data. This technology is a more reliable way for companies to implement scalable and high-performing big data architectures. Edge Intelligence’s patented technology supports fast and secure access to data that may reside in thousands of locations.
“Data is critical for digital transformation success, yet it is becoming increasingly difficult to gain actionable insight from data. Transferring large volumes of data across geographies takes too long, costs too much, and increases data privacy concerns,” said Edge Intelligence co-founder and CEO Kate Mitchell. “We’ve developed a new approach to analytics, making it faster and easier to analyze vast amounts and types of globally distributed data generated by devices, machines and sensors – whether the data is seconds or years old. By keeping data close to where it’s generated without ever having to move the data, organizations gain near real-time, actionable insight to improve operational efficiency, profitability and gain a competitive advantage.”
According to an IDC report titled “Worldwide Semiannual Big Data and Analytics Spending Guide,” the revenues for big data and business analytics are expected to grow over $260 billion by the end of 2022. It is a challenge for companies to gain timely access to data being generated at the edges of their networks and options for reviewing actionable insights.
“As the growth of the Internet of Things continues, Edge Intelligence has created an innovative solution whose analytics capabilities far outstrip the outdated methods of managing and analyzing data, that are currently available in the market,” Talis managing partner Matus Maar. “We greatly look forward to partnering with Kate and the entire team at Edge, as they embark on this next, exciting phase of growth.”
