Swarm64, a provider of the scalable data accelerator (SDA), which enables relational databases to perform real-time big data analytics, has secured a Series B funding round of $12.5 million. The funding round was led by Intel Capital and Investinor, while previous investors Alliance Venture and Target Partners also participated in the round.
The fast-growing company was founded in 2013 and based in Oslo and Berlin. In the previous funding round, in September 2015, Swarm64 raised €7.1 million.
Karsten Rönner, CEO of Swarm64, stated: “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.”
Investinor’s investment director Jon Øyvind commented: “Swarm64 addresses a billion-dollar market opportunity. The global in-memory computing market is estimated to be worth $31 billion USD 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.”
Michael Münnix, partner at Target Partners, added: “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.”