SAN FRANCISCO, Mar 29, 2017 /PRNewswire/ -- GPU analytics company MapD Technologies today announced it has closed a $25 million Series B funding round led by New Enterprise Associates (NEA) with participation from existing investors NVIDIA, Vanedge Capital and Verizon Ventures. The financing comes amid a rapid increase in the adoption of ultrafast graphics processing units (GPUs) to power enterprise applications including machine learning, numerical computation and now data analytics.
Combining a powerful GPU-based SQL query engine with immersive visual analytics, the MapD software platform allows analysts and data scientists to interactively explore multi-billion-row data sets. With data volumes constantly increasing, extracting the full value of that data has become a significant challenge for many enterprises. MapD solves this problem by harnessing the massively parallel processing power of GPUs, providing insights orders of magnitude faster than CPU-based solutions.
The MapD platform is used by customers across the advertising, energy, financial services, government, retail, social media and telco sectors, united by their need for interactive analytics at scale.
"At NEA we strive to identify startups that are poised to capitalize on shifts in technology," said Greg Papadopoulos, PhD, venture partner at NEA. "GPU-powered analytics is going to radically change the data analytics market, and MapD has the technology and team to drive that disruption."
"MapD recognized early on that as companies become more data-centric and data sets grow ever larger, the underlying compute needs to shift to GPUs," said Jeff Herbst, vice president of business development at NVIDIA and head of NVIDIA GPU Ventures. "We've participated in every funding round with MapD, and expect them to emerge as a dominant force in the burgeoning field of GPU-powered analytics."
"We're seeing an emerging strong move towards GPUs for intense compute tasks," said Dan Vesset, group vice president of IDC's Analytics and Information Management market research and advisory practice. "The trend started with AI but is now extending to data analytics and other operational functions. MapD is at the leading edge of the transition to GPU-powered data analytics and visualization, which we see accelerating along with the exponential growth of the data universe."
"We knew the first time we met with MapD that they were onto something remarkable," said Moe Kermani, managing partner at Vanedge Capital. "Since then, MapD has established its leadership in the GPU-powered analytics market with amazing speed. Their mature product, advanced technology and strong relationships with cloud providers set them far ahead of the pack."
"We're very excited to partner with our incredible investors to accelerate the development of our technology and to increase customer adoption," said Todd Mostak, co-founder and CEO of MapD. "This investment will enable us to advance our vision of making GPU analytics a dominant technology in the enterprise."
SOURCE: PR Newswire
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