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SQream secured fresh funding from investors, raising its tally secured to date to more than $120 million
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The company offers a GPU-powered big data and analytics platform
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It is building a new data lakehouse called SQream Blue
SQream became one of the latest startups to benefit from the artificial intelligence (AI) boom, landing $45 million in fresh funding last month to fuel the expansion of its team and GPU-based big data and analytics capabilities.
The round, led by World Trade Ventures, along with new and current investors, reflects growing demand for the ability to process terabyte or even petabyte-scale data workloads.
"Recent developments in the field of generative AI have helped many enterprises realize the immense potential of data and algorithms, which has also placed a spotlight on our GPU-accelerated analytics platform and increased its demand," CEO Ami Gal said in a blog. "Our latest round of funding is a testament to investors’ belief in our advanced data analytics technology and our vision of empowering businesses to foster growth in ways that were once unthinkable."
The company, according to CBInsights, has raised a total of $121.8 million over the course of five rounds. Most recently, it secured $39.4 million in a Series B+ funding round in June 2020.
The news comes after SQream joined the Samsung Cloud Platform ecosystem in July and appointed Deborah Leff, formerly Global Head of Business Analytics Sales at IBM, to the position of Chief Revenue Officer the same month.
Yet the question remains: What - or who - is SQream?
Who is SQream?
SQream Technologies was founded by Gal and Kostya Varakin in Tel Aviv, Israel in 2010. Four years later, it released SQream DB in collaboration with Orange S.A., which it said saved $6 million using the new service. The prime focus of SQream DB is affordable and accessible multi-terabyte analytics, which it achieved with help from Nvidia GPUs.
SQream began its cloud journey in February of 2018, when the company entered into a partnership with Alibaba Cloud to develop and deploy GPU-centric database solutions in cloud environments. Shortly after, with the release of SQream DB v2.6, the company began making its products available on the AWS Marketplace as a public AMI. In 2021, the company delved further into the cloud with the acquisition of Panoply, a no-code data platform, in order to grow its list of cloud offerings. Last year, it joined Google Cloud's Partner Advantage program.
It is now building SQream Blue, an initiative which aims to apply its GPU processing technology to a new data lakehouse. Early access for design partners opened in Q3.
Who are SQream’s competitors?
G2, a trusted software marketplace disrupting the traditional analyst model through customer reviews, ranks the following five alternatives to SQream: Snowflake, Amazon Redshift, IBM Db2, Google Cloud Big Query and Teradata Vantage.
Silverlinings reached out to SQream for comments but did not receive a response.
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