Thursday, February 22, 2024

Big Data Analytics Startup Iguazio Raises $33 Million

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Iguazio, a big data analytics startup based in Herzliya, Israel, announced today that it had raised $33 million in a Series B round of financing headed by Pitango Venture Capital with additional backing from Verizon Ventures and Robert Bosch Venture Capital.

Previous investors Dell Technologies Capital, Magma Venture Partners and Jerusalem Venture Partners also participated. To date, the company has attracted $48 million from the venture capital (VC) community.

Targeting Internet of Things (IoT) deployments, cloud applications and other data-rich environments, the Iguazio Continuous Analytics Data Platform provides a unified, secure and continual source of data from a variety of sources. The technology enables organizations to run big data analytics at the edge and integrate artificial intelligence and machine learning into their business processes in real-time.

“Once your data is unified into a secure real-time data platform and all your tools (APIs, custom logic, Spark, Tensor Flow, etc.) are stateless and containerized, deploying new applications, upgrading code, or scaling a service becomes simple,” explained Yaron Haviv, CTO and founder of Iguazio, in a July 25 blog post. “Iguazio leverages tools such as Kubernetes and built new real-time serverless technology (will soon be open sourced) to make things even simpler so that our customers can focus on business instead of data.”

It’s been a busy summer for big data startups and the VCs that fund them.

In June, San Jose, Calif.-based Xcalar announced it had secured $21 million in a Series A investment round led by Khosla Ventures. Merus Capital, Andy Bechtolsheim and Diane Greene also lent some funds.

Xcalar’s analytics platform allows organizations to derive business insights directly from petabytes of raw data across a variety of sources (cloud or on-premises), a capability the company refers to as Fundamental Discovery. Version of 1.2 of Xcalar is notable for a user experience that doesn’t require programming know-how in order to create data models and design machine learning algorithms.

A week ago, Privitar closed on a $16 million Series A round. Partech Ventures headed the investment, with backing from CME Ventures, Salesforce Ventures, 24Haymarket, Illuminate Financial and IQ Capital.

The London-based startup specializes in anonymizing and securing big data, ensuring user privacy. Data privacy and security has become a hot topic as the implementation date of the EU’s stringent General Data Protection Regulation (GDPR) nears. On May 25, 2018, when GDPR goes into effect, businesses must adhere to strict rules governing the protection and management of user data or risk hefty fines.

Pedro Hernandez is a contributing editor at Datamation. Follow him on Twitter @ecoINSITE.

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