Ocient – a leading data analytics software solutions company – announced today that it has closed $49.4 million in funding. This funding is an extension of Ocient’s Series B financing, which was previously led by Greycroft and OCA Ventures and included new venture investors Buoyant Ventures, Levy Family Partners, Riverwalk Capital, Wolf Capital Management, and all prior significant investors. Including this funding round, Ocient has raised $119 million since being founded in 2016.
This latest funding round will be used to advance product capabilities and offer hyperscale data analytics solutions to Ocient’s growing global customer base.
Ocient saw 109% year-over-year (YoY) growth in revenue in the last fiscal year as more organizations are looking for end-to-end software solutions capable of delivering all-the-time and compute-intensive analysis of large and complex datasets while optimizing for performance, cost, and energy efficiency.
KEY QUOTES:
“Organizations are being challenged to deliver energy efficient hyper-growth data analysis without accelerating costs, which has become increasingly challenging as real-time analytics, SQL, AI/ML, and geospatial workloads typically require more energy consumption. The close of this latest round of financing is an indication that the need for the solutions we bring to market is growing across industries, and geographies.”
– Chris Gladwin, CEO of Ocient
“The world is connected through data, and a growing number of organizations are grappling with growing, complex datasets that are challenging the status quo of their existing systems. Ocient’s unique approach to enabling the analysis of these always-on, compute-intensive datasets while optimizing for performance, cost, and energy efficiency is a win-win for businesses and the environment, and OCA Ventures is thrilled to be a part of this next chapter of Ocient’s growth as it delivers its data analytics software solutions to a growing number of customers around the globe.”
– Jim Dugan, founding managing partner of OCA Ventures
“The demand for computing power and storage space in data centers will continue to increase rapidly and cloud providers are struggling to buy enough clean energy to balance their growth, making decarbonization solutions for this sector hugely important for the future of our global climate. Buoyant Ventures invests in organizations creating high-impact digital solutions in our fight against climate change. Ocient’s highly differentiated approach to delivering energy-efficient data analytics software solutions is a compelling fit, and we’re excited to see how the company continues to innovate and lead the way in this space.”
– Amy Francetic, co-founder and managing partner of Buoyant Ventures
