Israeli data beaming technology provider Equalum has announced completing an $18 million in Series B financing round led by Planven and with the participation of United Ventures and other European investors, as well as existing investors Innovation Endeavors and GE Ventures. The Series B investment brings the company's total funding raised to date to $25 million.
Equalum enables enterprises to seamlessly transport data throughout the enterprise.
Equalum CEO Nir Livneh said, "There is an exploding global demand for solutions to help companies harness the power of their data to make faster, better decisions. Our strategic partnership with some of the most respected and knowledgeable tech investors in Europe will accelerate our growth in this critical market."
Equalum enables data-rich enterprises to easily consolidate data from disparate systems into central stores like warehouses and data lakes to power real-time analytics. The technology harnesses the power of open source big data frameworks like Spark and Kafka in a fully-managed solution that requires no manual configuration, coding, or maintenance.
Many companies still rely on traditional extract-transform-load (ETL) technologies to centralize operational data for analysis. Relative to these solutions, Equalum's technology has been proven to drive performance gains of up to 15x and total cost savings of up to 10x in Fortune 100 companies.
With offices in Tel Aviv and Califorina, the Series B funding will enable Equalum to move onto the next phase of its growth strategy, which consists of expansion within Europe as well as the establishment of a robust channel and technology partner network. The company has 30 employees, 20 of them in Israel.
Published by Globes, Israel business news - en.globes.co.il - on May 29, 2019
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