Israeli GPU-accelerated analytics startup, SQream, secured a $45 million Series C funding round led by World Trade Ventures. Participating investors included Schusterman Investments, George Kaiser Foundation (Atento Capital), Icon Continuity Fund, Blumberg Capital, and Freddy & Helen Holdings. This marks SQream's fourth funding round, bringing their total capital raised to over $118 million.
Founded in 2010 by Ami Gal (CEO) and Razi Shoshani (CTO), SQream offers a GPU-accelerated SQL database designed for tera-to-peta-scale data. It offers unparalleled speed, efficiency, and scalability, allowing businesses to gain faster insights at a fraction of the cost, especially for AI and Machine Learning applications.
SQream's technology reduces data ingestion times by 90%, preparation times by 90%, and operational costs by 80%, all while leveraging SQL processes. The company's GPU-based approach augments computational power and also significantly reduces the carbon footprint and energy consumption compared to traditional CPU-based solutions.
SQream's clientele spans multiple sectors, including semiconductors, manufacturing, telecom, financial services, and healthcare.
This funding announcement comes on the heels of SQream's recent strategic development, including its partnership with the Samsung Cloud Platform Ecosystem and the appointment of Deborah Leff, former Global Head of Business Analytics Sales at IBM, as Chief Revenue Officer.
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SQream acquired Israeli no-code cloud data platform startup Panoply back in December 2021.
