Israel-based database developer SQream has raised $26.4m in a series B round from a consortium led by e-commerce group Alibaba.
The round also included conglomerate Sistema’s corporate venturing unit Sistema.vc and Silvertech Ventures, which collaborates with real estate developer Silverstein Properties.
Venture capital firms Hanaco Venture Capital, World Trade Ventures, Paradiso Ventures and Glory Ventures also took part in the round.
SQream was founded in 2010 and its analytical database enables companies to analyse up to 20 times more data, up to 100 times faster, at as little as 10% of the cost and administration, it said.
The funding brings its total raised to a little more than $40m, according to TechCrunch, with other investors including Blumberg Capital and Granot Ventures. Blumberg led a $7.4m funding round in 2015.
Chaoqun Zhan, director of Alibaba Database Business, which partnered with the portfolio company in February, said: “SQream is uniquely positioned to provide enterprises with the solution they require to lower the barrier for accessing and analysing rapidly growing, large-scale data stores in the cloud.
“We are pleased to expand our relationship with SQream, and work together to accelerate the growth of the cloud industry.”
Ami Gal, CEO and co-founder of SQream, added: “The financing enables us to accelerate technological integration with ecosystem partners, and to grow our global sales and marketing team as we help enterprises worldwide meet the challenges of accessing and analysing data from exponentially growing massive data stores.”