Israeli big data startup Speedata, which was co-found by Eyal Waldman, former founder and CEO of Mellanox Technologies, has just raised $55 million in a Series A round led by Walden Catalyst Ventures, 83North, and Koch Disruptive Technologies (KDT).
When added to a previously undisclosed $15 million round of funding, Speedata has now raised a total of $70 million to date.
Speedata declares that it has developed the world’s first dedicated accelerated processor for big data analytics across industries. Speedata says that their Analytics Processing was designed solely to optimize data center and cloud-based database and analytic workloads, “dramatically improving performance by orders of magnitude while reducing costs, power consumption and space.”
According to Speedata the amount of data expected to be created in the next three years will exceed the amount created in the past 30 years. At the same time, revenue from big data analytics is expected to grow to nearly $70 billion by 2025.
A server with Speedata’s APU, boasts the company, can replace multiple racks of CPUs, dramatically reducing costs and saving space.
“Analytics and database processing represents an even bigger workload than AI with regard to dollars spent,” said Jonathan Friedmann, CEO & Co-Founder of Speedata. “That’s why industries are anxiously seeking solutions for accelerating database analytics, which can serve as a huge competitive advantage for cloud providers, enterprises, datacenters, and more.”
He added “Current processing units aren’t designed to manage today’s workloads. Our amazing team of academic and industry leaders has built a dedicated accelerator that will change the way datacenter analytics are processed – transforming the way we utilize data for years to come.”
“Until now, leading cloud players have been using CPUs for analytical processing. Some have recently begun developing big data accelerators utilizing FPGAs, with very limited capabilities. Speedata is developing the first processor architecture dedicated solely to data analytics.”
“Datacenter analytics are being completely transformed, and accelerated processors are set to play a substantial role in this revolution,” said Eyal Waldman, Co-Founder and former CEO of Mellanox Technologies and board member at Speedata. “Much like NVIDIA’s GPU revolutionized the AI space, Speedata’s unique APU will transform database computing. Data processing is a swiftly growing, multi-billion-dollar market in which acceleration will unleash the use of data in the applications of tomorrow and help countless entities reliant on big data innovate and compete. I look forward to supporting this extraordinary team as they reimagine big data processing for years to come.”