Swarm64, provider of the scalable data accelerator (SDA) which enables relational databases to perform real-time big data analytics, has secured USD12.5 million in a Series B funding round led by by Intel Capital and Investinor. Alliance Venture and Target Partners also participated in the round.
“We are very glad to welcome Intel Capital as a new investor. The cooperation with Intel will help us serve a global market with the most advanced technology,” says Karsten Rönner, CEO of Swarm64. “Many industries face an explosion in their data processing needs, be it from growing numbers of connected ‘things’, expanding business models that include data analytics or staying competitive in markets with ever higher data processing needs. The Swarm64SDA enables anyone with basic skills in relational databases to gain deep new business insights in less time.”
“Along with Swarm64, Intel is shortening our customers’ time to insights in a world of ever more connected devices and accelerating flows of data,” says John Sakamoto, vice president of the Programmable Solutions Group at Intel and general manager of its Data Center and Communications Division. “Leveraging Intel FPGAs and Xeon processors, Swarm64 is accelerating database operations to deliver these faster results for businesses”. Director Don Faria led the investment for Intel Capital.
“Swarm64 addresses a billion-dollar market opportunity,” says investment director Jon Øyvind Eriksen of Investinor. “The global in-memory computing market is estimated to be worth USD31 billion by 2018, according to market analysts. Relational databases and SQL continue to be the backbones for data analytics in the enterprise, but present SQL databases are inadequate for processing large amounts of high velocity data within real-time limits.”
Bente Loe, partner at Alliance Venture, says: “We recognised Swarm64’s potential early and have been supporting the company since the seed-stage. Now we are excited to back the company during its growth phase”.
Michael Münnix, partner at Target Partners, adds: “Swarm64 developed a disruptive approach to accelerate relational databases. The technology provides orders of magnitude faster performance, bringing real time applications to a broader commercial market. I look forward to continue working with such a great team.”
