Speedata Exits Stealth with $70 Million in Funding to Develop First-of-its-Kind Dedicated Analytics & Database Accelerator to Expedite Big Data Analytics
With data analytics pivotal to the future of every industry, Speedata's unique Analytics Processing Unit (APU) will significantly accelerate cloud-based big data and analytics workloads by orders of magnitude
Sep 30, 2021, 07:00 ET
NETANYA, Israel, Sept. 30, 2021 /PRNewswire/ -- Speedata, whose first-of-its-kind Analytics Processing Unit (APU) is designed to accelerate big data analytic workloads across industries, today announced a $55 million Series A round led by Walden Catalyst Ventures, 83North, and Koch Disruptive Technologies (KDT), with participation from existing investors Pitango First, Viola Ventures and prominent individual investors including Eyal Waldman, Co-Founder and former CEO of Mellanox Technologies. Both Waldman and Lip-Bu Tan, Managing Partner of Walden Catalyst Ventures, Chairman, Walden International and CEO, Cadence Design, will join Speedata's board of directors.
This newest funding round brings Speedata's total amount raised to $70 million, including a previously undisclosed $15 million seed round led by Viola and Pitango. Speedata is building the world's first dedicated processor for optimizing cloud-based database and analytic workloads, set to disrupt the way analytics and databases are processed in datacenters – crucial in an age of big data.
The amount of data expected to be created in the next three years will exceed the amount created in the past 30 years, while revenue from big data analytics is expected to grow to nearly $70 billion by 2025. When utilized optimally, database analytics serve as a gamechanger for enterprises, cloud providers, private datacenters, and others across industries. Accelerating analytics workloads can help organizations garner better business intelligence, accelerate ETL (extract, transform, load) and achieve scientific breakthroughs, among other key goals.
A server with Speedata's APU will replace multiple racks of CPUs, dramatically reducing costs and saving space. The unique accelerator will empower industries to execute big data analytics faster, more efficiently and economically, and with less energy consumption – including healthcare, finance, telecommunications, real estate, and others.
"Analytics and database processing represents an even bigger workload than AI with regard to dollars spent. That's why industries are anxiously seeking solutions for accelerating database analytics, which can serve as a huge competitive advantage for cloud providers, enterprises, datacenters, and more," said Jonathan Friedmann, CEO & Co-Founder of Speedata. "However, current processing units aren't designed to manage today's workloads. Our amazing team of academic and industry leaders has built a dedicated accelerator that will change the way datacenter analytics are processed – transforming the way we utilize data for years to come."
Until now, leading cloud players have been using CPUs for analytical processing. Some have recently begun developing big data accelerators utilizing FPGAs, with very limited capabilities. Speedata is developing the first processor architecture dedicated solely to data analytics.
"Datacenter analytics are being completely transformed, and accelerated processors are set to play a substantial role in this revolution," said Eyal Waldman, Co-Founder and former CEO of Mellanox Technologies and board member at Speedata. "Much like NVIDIA's GPU revolutionized the AI space, Speedata's unique APU will transform database computing. Data processing is a swiftly growing, multi-billion-dollar market in which acceleration will unleash the use of data in the applications of tomorrow and help countless entities reliant on big data innovate and compete. I look forward to supporting this extraordinary team as they reimagine big data processing for years to come."
Speedata's scalable architecture addresses the main bottlenecks of analytics, including I/O, compute, and memory, effectively accelerating all three. This unique architecture is compatible with all legacy software, allowing for seamless migration of workloads, with no changes necessary to an enterprise's code or existing framework.
Speedata was founded by Jonathan Friedmann, Dan Charash, Rafi Shalom, Itai Incze, Yoav Etsion and Dani Voitsechov, a multidisciplinary team of academic and industry leaders with a unique track record of building successful semiconductor startups.
Speedata has developed the world's first dedicated accelerated processor for big data analytics across industries. Speedata's Analytics Processing Unit (APU) was designed solely to optimize datacenter and cloud-based database and analytic workloads, dramatically improving performance by orders of magnitude while reducing costs, power consumption and space. Speedata's breakthrough accelerated analytics and database processors provide significant improvement in performance-per-cost for cloud providers, enterprises, private datacenters, and technology providers across industries.
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