Israeli data analytics startup SQream has secured $45 million in Series C funding to propel its growth and development of its GPU-based big data analytics platform. Led by World Trade Ventures, the funding round also saw participation from Schusterman Investments, George Kaiser Foundation (Atento), Icon Continuity Fund, Blumberg Capital, and Freddy & Helen Holdings. The company, whose valuation remains undisclosed, plans to focus on expanding its presence in North America, particularly in verticals such as semiconductors, manufacturing, telecoms, financial services, and healthcare.
SQream’s $45 million funding round will support its expansion in North America and optimize its GPU-based big data analytics platform for various industries, including semiconductors, manufacturing, telecoms, financial services, and healthcare.
Building on a Successful Bet: The Rise of GPUs in Data Analytics
SQream’s success story dates back to 2010 when it recognized the potential of GPUs in facilitating the processing and querying of big data sets. As AI and data processing demands grew, fueled by the rapid increase in data volume worldwide, SQream’s GPU-based parallel processing approach gained traction. The company’s offerings quickly gained popularity, attracting enterprise customers like Orange, Samsung, LG, Alibaba, and PubMatic.
Going Beyond SQL Database Analytics
Originally focused on SQL database analytics, SQream’s founders, Ami Gal, Razi Shoshani, and Kostya Varakin, recognized the potential of GPU-based parallel processing to revolutionize data queries for various applications, including business intelligence and machine learning. Over time, the company broadened its scope, acquiring Panoply in 2021 to expand its data sources. The latest funding will also be allocated towards research and development, driving advancements in SQream’s services, possibly leveraging next-generation processors, such as quantum and optical processors.
The Future of Data Analytics and GPU Processing
Despite the current hype around AI, SQream acknowledges that while AI-related business may fluctuate, the demand for processing larger data sets will continue to grow. Investors recognize the company’s ability to enable enterprises to become data-driven and deliver insights precisely where they are needed, further solidifying its position in the big data and AI landscape.
“SQream is reshaping the big data and AI landscape, and we are thrilled to contribute to their ascent,” said Abraham Schwartz, partner at World Trade Ventures.
While SQream continues to rely on Nvidia GPUs, CEO Ami Gal acknowledges the potential for new market disruptors and emerging architectures that could challenge Nvidia’s dominance in the coming years.
“There are quite a few new architectures that will rock the market in the next few years,” Gal remarked. “Nvidia is going to face a lot of competition. There will be new compute and quite a few new advantages.”
With $45 million in new funding, SQream is well-positioned to take advantage of the growing demand for GPU-powered big data analytics and expand its foothold in the North American market.