US-based operational data management software developer Equalum has received $18m in series B funding from investors including GE Ventures, the corporate venturing subsidiary of industrial product maker General Electric.
The round was led by investment firm Planven Investments and also featured venture capital firms United Ventures and Innovation Endeavors.
Founded in 2015, Equalum offers a data beaming platform that is used by enterprises to transmit operational data in real-time to analytics environments by leveraging big data frameworks like Spark and Kafka.
The technology means data from disparate sources can be more easily tracked and utilised. The company said the funding will enable it to expand its service in Europe and establish a channel and technology partner network.
GE Ventures and innovation Innovation Endeavors co-led Equalum’s $5m series A round in late 2017, participating alongside private investors including Giora Yaron, the company’s founding investor and chairman.