US-based data analytics software producer OmniSci has closed a $55m series C round that included graphics processing unit (GPU) producer Nvidia and Verizon Ventures, the corporate venturing arm of telecommunications firm Verizon.
Hedge fund manager Tiger Global Management led the round, which included Vanedge Capital, an affiliate of game publisher Electronic Arts, as well as New Enterprise Associates (NEA) and In-Q-Tel, the investment arm of the US intelligence community.
OmniSci has developed a software platform that relies on GPUs to provide big data analytics that can query billions of rows of data in milliseconds. It was founded in 2013 as MapD Technologies, but rebranded last month.
The company’s technology is based on research at Massachusetts Institute of Technology’s Computer Science and Artificial Intelligence Laboratory.
The series C funding will enable OmniSci to hire additional staff and expand its community of open source developers. It has already trebled its headcount over the past year and grown its client base to more than 100.
OmniSci has raised $92m in equity funding to date. NEA led a $25m series B round for the company in March 2017 that included Nvidia, Verizon Ventures and Vanedge Capital.
Nvidia and Verizon Ventures also backed OmniSci’s $10m series A round in 2016 alongside GV, the early-stage investment arm of internet and technology conglomerate Alphabet, and Vanedge Capital.
GV, Nvidia and Vanedge previously contributed to OmniSci’s $1.5m seed round in 2014 alongside assorted angel investors. OmniSci had won $100,000 in the Emerging Companies competition held by Nvidia earlier the same year.
