Israeli big data analytics company SQream announced today that it has raised $39.4 million in a Series B+ financing round led by Mangrove Capital Partners and Schusterman Family Investments, who joined existing investors, including Hanaco Venture Capital, Sistema.vc, World Trade Center Ventures, Blumberg Capital, Silvertech Ventures and Alibaba Group. Alibaba led the company's last financing round in 2018 when it raised $26.4 million.
SQream, provides a data analytics acceleration platform that enables enterprises to gain insights from their massive data stores. The investment will be used to expand the work force and further develop the company's cloud innovation, and customer delivery platforms.
SQream was founded in 2010 by CEO Ami Gal and CTO Raz Shoshani. The company has 80 employees at its headquarters in New York, R&D center in Tel Aviv and other offices in London, France and South Korea.
Following the financing round investor Charlie Federman from Silvertech Ventures, and Roy Saar from Mangrove Capital Partners have joined SQream's board of directors.
Gal said, "From the very beginning, our vision has been to enable enterprises to analyze more of their data much faster, providing better, more accurate and comprehensive business insights. We have made our vision a reality by continuously improving our product, and by investing in top developers who enjoy the challenge and motivation of deep tech product innovation."
Published by Globes, Israel business news - en.globes.co.il - on June 24, 2020
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