Founded in 2013, Brytlyt, a pioneering provider of real-time data analytics and visualisation technology, has just raised a €4.4 million funding extension from AlbionVC and existing investors Amadeus Capital Partners and Finch Capital.
The data analysis sector is growing at an accelerated pace at the moment as companies’ increasingly look to this technology amidst digital transformation. The market is estimated to be worth more than $75 billion by 2024.
This fresh funding for Brytlyt comes as they release Brytlyt.io – a fully serverless deployment model for analytics and data science workloads. Together, this new release and funding boost is a great step up for the London-based company that’s on a mission to innovate next-generation data solutions that are powerful and easy to use.
Sectors with billion-row data sets such as telecommunications, retail and finance have traditionally struggled to use their data to gain actional insight into company performance and improve customer experience and retention. Brytlyt’s process is aiming to provide instant visual data analysis 1000x faster than comparable legacy systems with patented and IP protected technology.
Founded by husband and wife duo, Richard and Maria Heyns, Brytlyt, built on PostgreSQL, was developed to accelerate query times and processes to the speed-of-thought, whilst maintaining a clear strategy for real-world application and accessibility, allowing for swift integration into a business’s day-to-day processes while utilising existing skillsets.
Brytlyt simplifies speed-of-thought analytics with the next evolution of serverless technology, reducing the need for data pipelines or compromised analysis because of data aggregation. The pioneering company’s accelerated analytics platform allows businesses, including Umlaut and GBM, to interactively explore and interpret complex data sets composed of millions through to billions of data sample points. As a direct result of the ultrahigh-speed data processing capacity, organisations can rapidly increase their competitiveness and revenue.
Richard Heyns, CEO of Brytlyt, said: “The launch of Brytlyt.io delivers a unique way to access high performance analytics tooling and is a genuine catalyst for positive disruption in data analytics. I believe the data analysis marketplace is at an inflection point with Brytlyt a leading contributor.”
The startup will use the funding to expand growth across Europe and the USA, with recruitment and product deployment as key focus areas.