SQream – a data and analytics accelerator company built for big data and AI/ML workloads – recently announced the successful completion of a $45 million Series C financing round. The funding round was led by World Trade Ventures, with participation from new and current investors, including Schusterman Investments, George Kaiser Foundation (Atento), Icon Continuity Fund, Blumberg Capital, and Freddy & Helen Holdings. The latest funding round will be utilized to expand the company’s presence in North America, extend its strategic partnerships, and propel advancements in AI/ML enterprise capabilities and big data analytics.
The industry has witnessed firsthand that legacy data infrastructure cannot keep up with the demand of current analytics projects. And companies are often forced to limit the amount of data that can be analyzed in specific projects, risk that complex analysis cannot be completed in time to drive business decisions or suffer from reporting latency that threatens user adoption of completed projects.
Until now, the only option was to make disproportional investments in hardware and compute resources to get necessary insights. And the addition of Graphic Processing Units (GPUs) into analytics processes is transforming corporate analytics programs and driving incredible demand for SQream’s solution – which significantly accelerates time to value and reduces costs for terabyte-to-petabyte-scale data workloads in AI/ML applications and beyond.
Plus, SQream’s benchmarks consistently return improvements in expanding data capacity while reducing ingestion times by 90%, preparation times by 90%, footprint by 90%, and costs by 80% – all while using familiar SQL processes combined with the power of data parallelism.
By utilizing the massive processing capabilities of GPUs, SQream’s solutions enable companies to process extremely large and complex datasets faster, more cost-efficiently, with a smaller carbon footprint, and using less hardware and consuming less energy than conventional big data solutions that rely strictly on CPUs. And SQream’s patented GPU technology complements almost any data architecture to augment compute power and analytics velocity, breaking through barriers that have hindered analytics success to date while minimizing cost.
SQream’s customers include enterprises across a wide range of industries, including semiconductors, manufacturing, telecomms, financial services, and healthcare – who have already seen the ability of GPU computing to dramatically accelerate their data analytics and AI/ML data pipelining processes. And this news follows on the heels of recent company announcements such as joining the Samsung Cloud Platform Ecosystem and the appointment of Deborah Leff, former Global Head of Business Analytics Sales at IBM, as Chief Revenue Officer as part of a strategic initiative to expand the company’s presence in the US.
KEY QUOTES:
“As Generative AI shines a light on the importance of leveraging AI and ML within enterprises, as well as the value of GPUs as part of the analytics process, we have seen interest in our technology skyrocket. Companies are very focused on driving analytics maturity right now, and this recent funding round is another step in our mission to better equip our customers with cutting-edge data analytics and processing solutions that empower them to derive meaningful insights from their vast datasets and drive growth in ways previously thought impossible. We are grateful for the trust from World Trade Ventures and for the ongoing support from our investors, especially in a tight funding climate.”
– Ami Gal, CEO of SQream
“SQream is enabling enterprises to become data-driven and deliver insights at the point of impact where they are needed most, and in their ability to push technological boundaries in the ever-growing analytics and AI/ML spaces. We are thrilled to contribute to SQream’s ascent towards reshaping the big data and AI landscape, and look forward to seeing the significant impact they will make in the market, especially in North America, to meet this increasing demand.”
– Abraham Schwartz, partner at World Trade Ventures
