- Leading data beaming technology provider Equalum announced it raised $18 million in Series B led by Planven
- And United Ventures and other European investors also joined this round along with participation from existing investors Innovation Endeavors and GE Ventures.
Equalum, a leading data beaming technology provider that enables enterprises to seamlessly transport data throughout the enterprise, announced it raised $18 million in Series B funding. This round of funding was led by Planven. United Ventures and other European investors also joined this round along with participation from existing investors Innovation Endeavors and GE Ventures. Including this round of funding, Equalum has raised a total of $25 million to date.
“There is an exploding global demand for solutions to help companies harness the power of their data to make faster, better decisions,” said Equalum CEO Nir Livneh. “Our strategic partnership with some of the most respected and knowledgeable tech investors in Europe will accelerate our growth in this critical market.”
How does Equalum work? Equalum enables data-rich enterprises to easily consolidate data from disparate systems into central stores such as warehouses and data lakes to power real-time analytics. And its technology harnesses the power of open source big data frameworks such as Spark and Kafka in a fully-managed solution that requires no manual configuration, coding, or maintenance.
“The need for access to real-time insights across industries including manufacturing, finance, healthcare, retail, and media has never been greater,” added Giovanni Canetta Roeder, Managing Partner at Planven. “Equalum brings a visionary and battle-tested approach to solving this problem.”
Currently, many companies still rely on traditional extract-transform-load (ETL) technologies for centralizing operational data for analysis. Compared to those solutions, Equalum’s technology has been proven to drive performance gains of up to 15x and total cost savings of up to 10x in Fortune 100 companies.
Equalum has reported 7x year-over-year growth and the company now has a portfolio with a global footprint across 4 continents and multiple Fortune 100 companies. With this round of funding, Equalum is going to power its next phase of growth strategy including geographic expansion within Europe and establishing a robust channel and technology partner network.
“With a very limited investment in sales and marketing, Equalum has proven the value of its solution on the enterprise stage,” explained United Ventures managing partner Paolo Gesess. “The next step is to build an ecosystem to power global distribution.”
