SQream, the Israeli data and analytics accelerator startup “built” for big data and AI/ML workloads, completed a $45 million Series C financing round. The 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.
Established in 2010 by Gal and Kostya Varakin, SQream is a data analytics company that helps organizations break through barriers and ask the biggest, most important questions from their data.
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SQream said that it will use this latest round of funding to further expand its presence in North America, extend its strategic partnerships and “propel advancements in AI/ML enterprise capabilities and big data analytics.”
AI/ML enterprise capabilities are the ability of organizations to use artificial intelligence (AI) and machine learning (ML) technologies to improve their operations. These capabilities can be used to automate tasks, improve decision-making, and gain insights from data.
Big data analytics is the process of collecting, storing, analyzing, and interpreting large and complex data sets to extract meaningful insights. These insights can be used to improve business operations, make better decisions, and identify new opportunities.
Big data analytics is a complex and challenging field, but it is also one of the most promising areas of technology today. As the amount of data that is generated continues to grow, the need for big data analytics will only increase.
Legacy data infrastructure cannot keep up with the demand of current analytics projects. 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 with reporting latency that threatens user adoption of completed projects.
SQream’s GPU-powered analytics platform addresses these challenges by significantly accelerating time to value and reducing costs for terabyte-to-petabyte-scale data workloads in AI/ML applications and beyond. “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,” said Ami Gal, CEO of SQream. “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.”
