Splice Machine, a San Francisco-based leading data platform for operational artificial intelligence (AI), recently announced it raised $16 million in additional funding led by GreatPoint Ventures (GPV). Including this round, Splice Machine raised $58 million in total funding so far.
GreatPoint Ventures is known for investing in early-stage companies ranging from enterprise software to life sciences. Founded in 2015, GreatPoint Ventures is led by former Oracle President Ray Lane, Andrew Perlman (founder of several major manufacturing and natural resources companies), and former Juniper Networks EVP Ashok Krishnamurthi.
Accenture Ventures also participated in this round — which will strengthen the partnership between Accenture and Splice Machine to drive mission-critical business outcomes for clients with operational AI solutions. And SunBridge Group CEO Allen Miner also participated in this round. Miner is known for founding Oracle Japan, Salesforce.com Japan, and Concur Japan.
This round of funding follows a record growth year for Splice Machine. Splice tripled its revenues and customer count this past year. And the company saw wins in the financial services, healthcare, supply chain, and energy sectors.
“The speed and quality of decision-making is the most potent weapon in the corporate arsenal today,” said Splice Machine co-founder and CEO Monte Zweben. “Whether humans or machine learning models are making the decisions, access to the data and computation must be blazingly fast. Splice Machine removes latency from applications to speed high-quality decision-making with an integrated data platform, enabling enterprises to make intelligent decisions in mission-critical applications.”
What distinguishes Splice Machine is that it integrates operational workloads, analytics, and machine learning in one operational AI platform, which powers smart applications by leveraging real-time data at scale. And it delivers business experiences that drive revenue and increases internal efficiencies.
Splice Machine also helps organizations deliver smart customer experiences by transforming low latency systems and helping businesses solve and respond to customer inquiries in record time through a single platform. And using an operational AI platform, companies can drastically improve the quality of their decision-making whether its predicting events such as customer churn, impending fraud, a medical condition, or anticipating the next purchases by a customer.
And unlike other Big Data platforms, Splice Machine powers intelligent applications that are woven into the operational workflows of companies. It is essentially a scale-out SQL RDBMS, data warehouse and machine learning platform in one. Splice Machine is open source and it is built upon the popular Apache Hadoop, HBase, and Spark distributed platforms.
“Splice Machine delivers on the gap between data platforms for analysis, and those capable of taking action,” added GPV managing partner Ray Lane. “There are many companies delivering analytical platforms today, but Splice Machine is the first integrated platform that can inject intelligence directly into real-time, mission-critical applications, and they do it by enabling SQL developers, rather than very hard to find distributed system specialists.”
With this funding round, Splice Machine will further innovative its data platform and expand its global go-to-market team. And Splice Machine is going to grow its distributed engineering and customer success teams across the U.S. and around the world. Plus Splice Machine is going to invest its new partnership with Accenture to meet the increased global demand for operational AI platforms and large-scale transformation.
“The Splice Machine operational AI platform strengthens our ability to deliver on the power of artificial intelligence,” explained Accenture’s chief technology and innovation officer Paul Daugherty — who is also on the member board of directors of Girls Who Code and a member of the Computer Science and Engineering Advisory Board at the University of Michigan. “With Accenture and Splice Machine’s combination of operational, analytical, and intelligent capabilities, we can embed intelligence at the core of our clients’ business to make them more agile and become leaders in the age of new IT.”
