Enterprise IT Startup Kinetica Brings In $50 Million
Kinetica announced it has raised $50 million in Series A financing. Four investors contributed to the round: Canvas Venture Fund, Meritech Capital Partners, Citi Ventures, and Greatpoint Ventures Innovation Fund.
Kinetica’s distributed in-memory database, accelerated by GPUs, delivers real-time actionable intelligence on large, complex and streaming data sets and provides 100 times faster performance using 1/10 of the hardware of traditional databases. The company’s goal is to make real time a reality. Organizations use Kinetica to ingest, explore, analyze, and visualize streaming data simultaneously within milliseconds to make critical decisions and to find efficiencies, lower cost, generate new revenue, and improve customer experience,
The company revealed that it will use its new funding to hire additional engineering, sales, and marketing talent, as well as open new offices worldwide.