TEL AVIV, Israel, May 30, 2018 /PRNewswire/ --
SQream, developer of SQream DB, the
leading GPU database for analyzing massive data stores at a
fraction of the cost, announced today that it has raised
$26.4 million in Series B funding.
The latest round was led by Alibaba Group (NYSE: BABA) with
participation from existing and new investors including Hanaco
Venture Capital, Sistema.vc, World Trade Ventures, Paradiso
Ventures, Glory Ventures, and Silvertech Ventures.
SQream DB, a powerful SQL analytical
database, enables companies to analyze up to 20 times more data, up
to 100 times faster, at as little as 10% of the cost and
administration. SQream DB harnesses the power of thousands of
parallel processing cores in NVIDIA GPUs. The solution allows users
to easily ingest, store and analyze tens to hundreds of terabytes
of data and more with significantly reduced infrastructure and
manpower resources. The result is unparalleled power and
flexibility to explore and analyze massive amounts of data. The
latest investment reinforces the rising challenge facing
enterprises to take full advantage of rapidly growing data
stores.
"SQream is uniquely positioned to
provide enterprises with the solution they require to lower the
barrier for accessing and analyzing rapidly growing, large-scale
data stores in the cloud. We are pleased to expand our relationship
with SQream, and work together to accelerate the growth of the
cloud industry," said Chaoqun Zhan,
Director of Alibaba Database Business.
This strategic investment deepens the
relationship between Alibaba Cloud
and SQream. In February, the companies announced a collaboration
agreement to provide Alibaba Cloud's
customers with a cost effective way to set up, access and analyze
data in the cloud, enabling more comprehensive analytics and
previously unobtainable business intelligence.
"We are very gratified with the vote of
confidence we have received from this round's lead investor,
Alibaba Group, and our other key investors," said Ami Gal, CEO and Co-founder of SQream. "The
financing enables us to accelerate technological integration with
ecosystem partners, and to grow our global sales and marketing team
as we help enterprises worldwide meet the challenges of accessing
and analyzing data from exponentially growing massive data
stores."
About
SQream
SQream develops and markets SQream DB,
a GPU database designed to enable unparalleled business
intelligence from massive data stores. Global enterprises use
SQream DB to analyze more data than ever before, while achieving
improved performance, reduced footprint, significant cost savings
and the ability to scale the amount of data they analyze to
hundreds of terabytes and more. SQream DB is available both on
premise and in the cloud. To learn more, visit sqream.com or follow
us on Twitter @sqreamtech.
Media Contact
Josh
Turner
+1(917)231-0550
+972-54-949-6526
turner@siliconvpr.com
David
Leichner
+972-54-779-9888
david@sqream.com
SOURCE SQream Technologies