SQream Technologies News
17 articles
growth-negative
The big data analytics company has laid off about 20 employees in recent months and currently employs about 70 people, less than half of its peak workforce.
SQream, a big data analytics company, has recently undergone significant changes. The company laid off about 20 employees, reducing its workforce to approximately 70, which is less than half of its peak size. Additionally, CEO Ami Gal is stepping down after 14 years and will join the board of directors, prompting a search for a new CEO. Despite these challenges, SQream successfully completed a $45 million Series C financing round in September 2023, led by World Trade Ventures and other investors. The company, founded in 2010, specializes in accelerating data and analytics for big data and AI/ML workloads using patented GPU technology.
LayoffsInvestmentManagement Changes
growth-positive
Co-founder and CEO Ami Gal sat with CTech for an extended interview at AI 2024 to discuss the importance of data in today’s world.
In an interview at AI 2024, SQreams Co-founder and CEO, Ami Gal, discussed the transformative impact of AI and data on various industries, particularly healthcare. He emphasized the role of AI in creating valuable insights for enterprises, describing the emergence of AI factories that leverage data and algorithms to drive innovation. Gal highlighted SQreams contribution to this landscape by integrating data processing with AI algorithms on GPUs, which is crucial for applications in sectors like healthcare and transport. He noted that AI and machine learning have significantly advanced drug development and genome research, leading to improved treatments and healthcare solutions.
growth-positive
SQream nets $45 million Series C to unleash the full potential of GPUs | CTech
Data analytics firm SQream has raised $45 million in a Series C funding round led by World Trade Ventures, with participation from Schusterman Investments, George Kaiser Foundation (Atento), Icon Continuity Fund, Blumberg Capital, and Freddy & Helen Holdings. The funds will be used to expand the companys presence in North America, extend strategic partnerships, and advance AI/ML enterprise capabilities and big data analytics. SQreams solution uses GPUs to process large and complex datasets more efficiently. The company, which employs around 150 people, has seen its valuation rise in the Series C round and has raised a total of $135 million to date.
InvestmentExpandManagement Changes
growth-positive
SQream-Hitachi Vantara team up to accelerate peta-scale data analytics
Tel Aviv-based company, SQream, has announced a partnership with Hitachi Vantara to integrate its data acceleration platform with Hitachi Content Software for File and Hitachi Content Platform. The combined solution will enable enterprises to perform rapid analytics on their data. The offering is already available to enterprise customers, providing them the ability to analyze larger stores of data with faster results and at a lower price point. The partnership addresses the challenge of analyzing growing volumes of data within enterprises. The global datasphere is expected to grow from 33 Zettabytes in 2018 to 175 Zettabytes by 2025.
Partners
growth-negative
SQream slashes over 15% of workforce CTech
Data analytics startup SQream is laying off 30 of its 170 employees, most of them in Israel. The layoffs are a result of the companys need to quickly adjust to the new reality and reach a balanced bottom line without relying on outside funding. SQream, which acquired Panoply for an estimated $60-70 million, is facing competition from companies like Snowflake, Amazon, and Oracle. The company is now focused on generating revenue from new and existing clients.
Layoffs
growth-positive
SQream acquires Israel's Panoply in $60-70 million deal
SQream, a GPU-based data analytics platform, has acquired Panoply, an Israeli company. The acquisition is estimated to be between $60-70 million. SQream will expand its cloud offering by integrating Panoplys no-code ELT and data warehouse management services into its hybrid analytics platform. The acquisition will allow SQream to provide companies with the ability to generate insights from any data environment. Panoplys 30 employees will join the SQream team. SQream has raised $77 million to date from various investors.
Acquisition
growth-positive
Pandemic Proves the Business Value of Rapid Analysis and Insight in the Midst of a Data Revolution - RTInsights
The article discusses the increasing importance of data analytics technologies and specialized skill sets in the face of the COVID-19 pandemic. It highlights the need for innovative data processing technologies to handle massive data volumes and gain valuable insights. The article mentions that COVID-19 has forced companies to realign their priorities and focus on translating their data into business benefit. Industries such as finance, retail, and telco are particularly affected, with data analytics playing a crucial role in risk management, customer assistance, and operational efficiencies. The article also emphasizes the growing power and importance of data teams and Chief Data Officers (CDOs) within organizations. It concludes by stating that the Massive Data Revolution is here to stay, and organizations need to embrace new data analytics platforms to stay ahead of the competition.
CustomersPartners
growth-positive
SQream Connector Newly Featured in Tableau's Extension Gallery Enables Interactive Analytics on Massive Data Stores
SQreams data connector is now available in the Tableau Extension Gallery, providing Tableau customers with near real-time interactive analytics on terabytes to petabytes of data. The connector offers version compatibility and simplifies the addition of new data sources. The partnership with Tableau allows SQream to transform big data into real-time insights, improving business decision making. SQreams data acceleration platform performs complex SQL queries to be analyzed in Tableau, enabling fast data discovery and exploration. SQream DB is used by global enterprises to analyze massive data stores and achieve improved performance and cost savings.
Partners
growth-positive
Israeli startup SQream inks $20 million deal with tier-1 mobile operator
SQream Technologies has signed a multi-year, multi-million dollar contract with a tier-1 mobile operator, estimated to be worth around $20 million. The companys data acceleration platform will help improve the quality of service for subscribers, minimize system downtime, reduce network costs, and create custom service packages. This agreement expands SQreams market share in the telecom industry. SQream recently raised $39.4 million in Series B+ funding, led by Mangrove Capital Partners and Schusterman Family Investments. The funding round included participation from existing investors. The mobile operator, whose name was not disclosed, has an estimated 30 million mobile subscribers and a growing base of 5G subscribers. The operator required SQreams solution to handle the increasing volume of data from 5G and IoT.
CustomersInvestment
growth-positive
Israel-based deep tech startup SQream raises $39.4 million in B+ funding
Israeli startup SQream Technologies has raised $39.4 million in Series B+ funding led by Mangrove Capital Partners and Schusterman Family Investments. The company is experiencing rapid growth and plans to recruit dozens of employees for its development center to advance its cloud development. The funding will be used to accelerate advancements in technology and cloud innovation, as well as customer delivery platforms. SQreams data acceleration platform enables rapid analysis of large amounts of raw data, and the company aims to provide better business insights to enterprises. The investors in this round include both new and existing investors.
InvestmentExpand
growth-positive
Core Scientific and SQream Team Up to Accelerate Massive Data Analytics on GPU Cloud for Data Scientists - GISuser.com
Core Scientific and SQream have announced a partnership to bring accelerated analytics of massive data to the GPU Cloud for Data Scientists. This partnership provides cost-effective accelerated analytics based on GPU computing for machine learning and deep learning used by various industries. Core Scientific is a leader in artificial intelligence and blockchain technologies, while SQream is a leader in GPU-accelerated analytics. The partnership aims to empower data scientists to turn massive datasets into comprehensive and timely insights that have a direct impact on business performance. SQream DBs accelerated analytics platform will be accessible to more organizations through Core Scientifics near-cloud infrastructure.
Partners
growth-positive
SQream and Datatrend Announce Strategic Partnership Agreement
SQream has announced a strategic partnership with Datatrend Technologies to accelerate the market adoption of SQreams GPU-accelerated data warehouse solution. Datatrend, a technology solutions provider and integrator, will leverage its expertise in optimizing infrastructure solutions to maximize the reach of SQream DB. The partnership aims to solve big data challenges that traditional data warehouses are not designed to handle. SQream expects the partnership to expand its market reach in the US and enterprise market, while Datatrend will be able to offer improved data analytics to its customers. SQream DB enables businesses to analyze massive data stores with improved performance, reduced footprint, and significant cost savings.
Partners
growth-positive
SQream Raises $26.4M in Strategic Series B Funding Round Led by Alibaba Group
SQream, the developer of SQream DB, has raised $26.4 million in Series B funding. The funding round was led by Alibaba Group, with participation from existing and new investors. SQream DB is a powerful SQL analytical database that allows companies to analyze massive data stores at a fraction of the cost and administration. The latest investment reinforces the rising challenge facing enterprises to take full advantage of rapidly growing data stores. The funding will be used to accelerate technological integration with ecosystem partners and to grow the global sales and marketing team.
Investment
growth-positive
Alibaba Partners with Israeli Startup to Supply a Cloud Database in China
Alibaba Cloud is partnering with data analytics startup SQream Technologies to market the database to its Chinese cloud customers. Alibaba has also agreed to invest up to $20 million in SQream. SQream develops SQream DB, a GPU database for large-scale data analysis. The partnership will provide Alibaba Cloud customers with on-demand, large-scale data storage. Alibaba reported a 104% year-over-year increase in revenues for its cloud business. Alibaba founder and chairman Jack Ma plans to visit Israel in May.
Partners
growth-positive
How big data can save lives
Israeli company SQream Technologies offers a revolutionary patent-pending technology that boosts analytics performance by up to 100 times. Their GenomeStack platform, developed specifically for genome researchers and data scientists, allows for faster and more effective extraction of time-critical knowledge from large datasets. The company recently raised $7.4 million for its technology based on GPU technology. SQreams mission is to make big data problems tangible to researchers and the healthcare system. They have the technology and expertise to compete with larger companies in the big data analytics space.
CustomersPartners
growth-positive
SQream Raises $7.4M in Funding Round
SQream Technologies has raised $7.4 million in private funding led by Blumberg Capital. The funding will be used to grow the companys business, particularly in North America. SQream develops and sells products based on its petabyte-scale database infrastructure, offering faster performance and scalability for organizations working with large quantities of data. In April, the company launched GenomeStack, its first product for the life science market. The product leverages SQreams technology to enable researchers to analyze and query large quantities of sequence data efficiently. The funding will help SQream address the increasing demand for speed and scalability in big data analytics.
Investment
Telco Calls On GPU-Native SQream SQL Database
