US-based graphic-focused data analysis software producer MapD Technologies completed a $25m series B round on Wednesday that included graphics processing unit (GPU) provider Nvidia and telecommunications company Verizon.
Venture capital firm New Enterprise Associates led the round, which also featured Vanedge Capital. Verizon participated through its corporate venturing subsidiary, Verizon Ventures.
MapD has built an immersive visual analytics platform that enables data scientists and analysts to interactively go through multi-billion-row datasets. The technology is used in industries including energy, financial services, retail, social media and telecommunications.
Jeff Herbst, Nvidia’s vice-president of business development and head of its Nvidia GPU Ventures unit, said: “MapD recognised early on that as companies become more data-centric and data sets grow ever larger, the underlying compute needs to shift to GPUs.
“We have participated in every funding round with MapD, and expect them to emerge as a dominant force in the burgeoning field of GPU-powered analytics.”
The company has now raised $36.5m in funding, having closed a $10m series A round backed by Nvidia, Verizon Ventures, Vanedge Capital and GV, the corporate venturing arm of internet and technology conglomerate Alphabet in April 2016.
MapD, which won $100,000 in Nvidia’s Emerging Companies competition in early 2014, subsequently closed a $1.5m seed round later in the year which included GV, Nvidia, Vanedge Capital and assorted angel investors.