Israel-based data management technology provider Iguazio raised $33m in series B funding yesterday from investors including telecommunications company Verizon, industrial product manufacturer Robert Bosch, exchange operator CME Group and computing equipment producer Dell.
Venture capital firm Pitango Venture Capital led the round, which unnamed sources told TechCrunch valued Iguazio at $100m, and which also featured VC firms Magma Venture Partners and Jerusalem Venture Partners (JVP).
Verizon, Bosch, CME and Dell participated through their subsidiaries Verizon Ventures, Robert Bosch Venture Capital, CME Ventures and Dell Technologies Capital respectively.
Founded in 2014, Iguazio has developed a software platform that performs continuous real-time analysis of big data stacks, as well as those for the internet-of-things (IoT) and cloud native applications. The funding will support international growth.
Merav Rotem-Naaman, managing director of Verizon Ventures Israel, said: “As one of the largest telecom companies in the world, we witness the importance of real-time continuous analytics and the way it has become crucial across businesses. Yet, there are not many existing scalable solutions.
“Iguazio is aiming to become a trusted partner for companies looking to use data to make real-time business decisions that improve security and operations. IoT data that improves decision-making and transforms business must get analysed closer to the edge, whether it be a fleet of trucks or the monetisation of mobile usage.”
Rumi Morales, executive director of CME Ventures, added: “Iguazio’s ability to effectively run machine learning simultaneously on large amounts of streaming and historical data is a great asset and we’re proud to be working together with this exceptional management team.”
The company had previously raised $15m in a November 2015 series A round led by Magma Venture Partners that included JVP and Dell Technologies Capital, though the latter was not identified at the time due to it still operating in stealth.