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Ayasdi Raises $30.6M for Big Data & Machine Learning

By   /  July 17, 2013  /  No Comments

ayby Angela Guess

Andrew Nusca of ZDNet reports, “Palo Alto, Calif.-based Ayasdi announced this morning that it raised $30.6 million for its ‘Insight Discovery’ technology, which promises to discover — automatically and quickly — relevant queries for extremely complex datasets. That’s a bit different from many self-proclaimed “big data” companies today that are focused on speeding up the process of querying increasingly large datasets. (And is precisely why the company is averse to using the buzzword.) The Ayasdi approach flips the process on its head, equipping line-of-business executives with similar abilities as data scientists.”

He continues, “The Series B funding round included Institutional Venture Partners, better known as IVP, as well as Citi Ventures, GE Ventures, Khosla Ventures and Floodgate. IVP’s Steve Harrick will join Ayasdi’s board. It’s not hard to imagine various industries salivating over the possibility of applying such a technology to their businesses. Indeed, just six months after Ayasdi’s formal debut, the company has already inked deals with General Electric, Citigroup, Merck, Anadarko, U.S. Food and Drug Administration, Centers for Disease Control and Prevention, the University of California San Francisco, Mount Sinai Hospital, Texas A&M University and Harvard Medical School.”

Read more here.

photo credit: Ayasdi

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