Data analytics platform SQream has closed its Series B+ round on $39.4m, with Mangrove Capital Partners and Schusterman Family Investments leading the round.
Hanaco Venture Capital, Sistema VC, World Trade Center Ventures, Blumberg Capital, Silvertech Ventures and Alibaba Group, also contributed to the round.
With the fresh equity, the company will look to hire more staff to help with the development of its technology and cloud capabilities. The FinTech platform will also look to enhance its customer delivery.
SQream offers a data acceleration platform which enables the analysis of thousands of terabytes to petabytes of raw data from data warehouses and databases. The technology helps businesses to improve their business insights.
Its technology is used in financial services, cybersecurity, telecoms, marketing and more.
As part of the deal, Silvertech Ventures partner Charlie Federman and Mangrove Capital partner Roy Saar, will join the company board of directors.
SQream CEO and co-founder Ami Gal said, “From the very beginning, our vision has been to enable enterprises to analyse more of their data much faster, providing better, more accurate and comprehensive business insights.
“We have made our vision a reality by continuously improving our product, and by investing in top developers who enjoy the challenge and motivation of deep tech product innovation.”
Copyright © 2018 RegTech Analyst
