Israeli real-time IoT edge analytics and data company iguazio today announced completion of a $33 million Series B financing round led by Pitango Venture Capital and with the participation of Verizon Ventures, Robert Bosch Venture Capital GmbH (RBVC), CME Ventures and previous investors, Magma Venture Partners, Jerusalem Venture Partners and Dell Technologies Capital. The company has raised $48 million to date including the latest financing round.
iguazio accelerates the digital transformation of enterprise companies and simplifies real-time analytics at the edge, on-premises and in hybrid environments, complementing the offering of leading cloud providers. The Herzliya based company was founded in 2014 by CEO Asaf Somekh, CTO Yaron Haviv, VP product Yaron Segev and chief architect Orit Nissan-Messing.
iguazio's Continuous Analytics Data Platform has fundamentally redesigned the entire data stack to accelerate performance in big data, the Internet of Things (IoT) and cloud-native applications. iguazio will use this new round to fund the company’s rapid global expansion.
Pitango managing general partner Eyal Niv said, "iguazio’s team has an outstanding track record of innovation and execution and we are delighted to back these stellar managers once again. While the majority of big data deployments fail due to over complexity, iguazio’s platform has proven to be simple, fast and secure, making it exceptional for artificial intelligence and machine learning use cases. We’ve already received overwhelming feedback from beta customers generating actionable real-time insights with significant business impact."
"As one of the largest telecom companies in the world, we witness the importance of real-time continuous analytics and the way it has become crucial across businesses. Yet, there are not many existing scalable solutions," said Merav Rotem-Naaman, Managing Director at Verizon Ventures Israel. "iguazio is aiming to become a trusted partner for companies looking to use data to make real-time business decisions that improve security and operations. IoT data that improves decision-making and transforms business must get analyzed closer to the edge, whether it be a fleet of trucks or the monetization of mobile usage."
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2017
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