Israeli data beaming platform company Equalum has announced the closing of a $5 million Series A financing round led by Eric Schmidt's Innovation Endeavors and GE Ventures, as well as a group of private investors led by Dr. Giora Yaron.
With offices in Sunnyvale, California and Tel Aviv, Equalum was founded by CEO Nir Livneh and CTO Ofir Manor. The company's data beaming technology, which transforms how enterprises manage the flow of data across systems, has gained rapid adoption in the manufacturing and Industrial Internet of Things (IIoT) sector and early traction in other verticals including finance and media.
Equalum's Data Beaming platform seamlessly teleports data across the enterprise, connecting any source to any target application or system - where organizations can unlock insights in real-time. Data Beaming replaces unscalable batch processes or unwieldy open-source implementations, providing a robust end-to-end solution with easy setup and a zero-coding approach. In a recent deployment at a Fortune 100 enterprise in the industrial space, for example, Equalum replaced a popular legacy ETL product - driving a performance increase of 15x.
Livneh said, "Business leaders know that their data is a source of competitive advantage. But critical insights are buried across systems, and data pipelines are often fragile and unscalable. Equalum's Data Beaming platform is built to transform how data sources are connected in the enterprise. By beaming data from operational systems to analytics environments, Equalum empowers leaders to surface and take action on insights in real-time."
Founding investor and Equalum chairman Giora Yaron said, “Big Data and Artificial Intelligence are today’s fastest growing technology trends. Equalum’s platform is uniquely capable of enabling AI for any organization. By seamlessly delivering vast amounts of data to analytics environments in real-time, Data Beaming can power the discovery of hidden patterns across data sets - revolutionizing everything from real-time fraud detection to the optimization of health care outcomes and the delivery of personalized customer experiences at scale.”
Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2017
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