Fresh on the heels of its rebranding from MapD to OmniSci in early October, the analytics company recently announced $55 million of Series C funding.
Fresh on the heels of its rebranding from MapD to OmniSci in early October, the analytics company recently announced $55 million of Series C funding.
In a blog post, OmniSci’s CEO and Co-Founder Todd Mostak said the funding round was led by global investment firm Tiger Global Management.
“It was clear that they held a strong thesis around the massive market opportunity in front of our company, and were fully aligned with our vision of the disruptive power of GPU-accelerated analytics,” Mostak wrote of the Tiger investment.
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Mostak explained he wrote the blog post to outline how each of the company’s three core values—to make analytics instant, powerful and effortless for everyone—will be affected by this new round of funding.
Faced with exponential data growth, delivering instant analytics is increasingly difficult, Mostak wrote. But the company plans to give customers a competitive advantage by optimizing its software to take full advantage of modern hardware, particularly the massive parallelism of GPUs.
OmniSci is also committed to enabling analysts and data scientists to dive deeper into their data than they previously thought possible, thus rendering the results more powerful, he wrote. The company also aims for an effortless experience, whether it’s installing software, accessing the cloud offering, ingesting data, building dashboards, or exploring data as an analyst.
“One of our customers was able to stand up the OmniSci platform on their DGX workstation in less than thirty minutes, ingest nearly 500M records in less than a minute, and were interactively exploring that data in ways previously unimaginable,” Mostak wrote.
To see the full blog post, click here.
