Dataset Analysis Company Ocient Raises $40 Million

By Annie Baker ● Feb 1, 2021
  • Ocient — a data analytics solutions (DAS) company serving businesses struggling with massive datasets — announced the completion of a $40 million Series B funding round. These are the details.

Ocient — a data analytics solutions (DAS) company serving businesses struggling with massive datasets — announced the completion of a $40 million Series B funding round, bringing total invested capital to $65 million. And the investment was led by Chicago-based OCA Ventures and New York City/Los Angeles-based Greycroft with participation by Valor Equity Partners, PSP Partners, Hyde Park Angels, Pritzker Group Venture Capital, Gaingels, and the MIT and Northwestern University chapters of Alumni Venture Group.

The new funding round will be used to grow Ocient’s engineering, customer success, operations, and sales and marketing teams with headcount expected to double to 150 by the end of 2021.

Founded in March 2016 by Chris Gladwin, Joseph Jablonski, and George Kondiles, Ocient transforms how industries ingest, store, and analyze the world’s largest datasets, delivering unmatched price/performance levels.

Ocient is deploying in Auction & Exchange Analytics, Security, and Geospatial customer use cases — all built on the proprietary Ocient DAS using industry-standard interfaces and hardware. These use cases can hold quadrillions of rows of data, ingress billions of rows per second, and filter and compute across trillions of rows per second.

Available through the Ocient Cloud, public cloud, or on-premise, the Ocient DAS delivers in areas where existing data analytics solutions fall short as it can handle petabytes of data without sacrificing performance; run queries and analytics 5 to 50 times faster than the best alternatives; and handle complex analytical functions and dynamic schema changes. Plus it uses industry-standard query and analytics interfaces, including SQL, JDBC, and ODBC.

KEY QUOTES:

“Organizations are struggling to keep up with today’s data demands, a challenge that will only continue to increase exponentially. With Ocient technology, organizations can tap into every piece of data now and in the future, unleashing massive new enterprise value.”

— Chris Gladwin, Ocient’s CEO

“Ocient provides massive scale data analytics solutions with built-in machine learning via a full stack solution to optimize performance, supporting commodity hardware in the cloud or on premise, allowing customers to run queries in seconds which previously could not be executed. Ocient’s DAS enables its customers to gain higher fidelity and deeper insights from its data, and opens up new revenue streams while significantly reducing their cost of operations. As a lead investor from inception to exit in Chris’s prior data startup, Cleversafe, we experienced firsthand management’s ability to convert brilliant innovation into revolutionary commercial success, and we are thrilled to include a world-class firm like Greycroft and our other co-investors to help Ocient achieve dramatic results.”

— Jim Dugan, Managing Partner at OCA Ventures

“The Ocient DAS is the new standard for analytics for the world’s largest datasets, where queries that take other applications one hour to complete can now take less than 10 seconds. Ocient is building and deploying industry leading distributed scalable architectures for the world’s largest enterprise and government customers, and we are excited to support their phenomenal growth.”

— Mark Terbeek, Partner at Greycroft