NeuroBlade, an Israeli startup that offers data acceleration solutions, also known as data analytics, has secured $83 million in Series B funding led by Corner Ventures with contribution from Intel Capital, and supported by current investors StageOne Ventures, Grove Ventures and Marius Nacht. This round brings the total investment in NeuroBlade to $110 million to date.
NeuroBlade says that it will use the new funds to expand its engineering teams in Tel Aviv and build out its sales and marketing teams globally.
Investopedia explains that data analytics is the science of analyzing raw data to make conclusions about that information. Many of the techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption.
NeuroBlade boasts that it has developed a new data analytics architecture that eliminates major data movement bottlenecks by integrating the data processing function inside memory, better known as processing-in-memory (PIM). PIM, says NeuroBlade, has been a pipe dream for decades, but NeuroBlade declares that it is the first company to successfully bring this innovation to production. NeuroBlade accelerates data analytics and unclogs traditional bottlenecks by integrating its technology into a full system-level easy-to-deploy appliance.
“We invented a new building block in computer architecture so organizations can quickly answer critical problems facing society and vastly improve business opportunities,” said Elad Sity, CEO and co-founder of NeuroBlade. “Our team is at the core of this success. Together, we built a data analytics accelerator that speeds up processing and analyzing data over 100 times faster than existing systems. Based on our patented XRAM technology, we provide a radically improved end-to-end system for the data center.”
“Despite being tested like never before this past year, the data center kept the world operating at a critical time. We think that this market is poised for explosive growth and NeuroBlade looks to have a promising journey ahead,” said Lance Weaver, vice president and general manager of Data Center & Cloud Strategy at Intel. “Intel is proud to power NeuroBlade’s platform with our portfolio of products. We look forward to our continued collaboration with NeuroBlade to optimize end-to-end performance.”