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Iguazio raises $24 million for AI development and management tools Posted on : Jan 27 - 2020

AI adoption levels are higher than they’ve ever been in the enterprise. According to a January survey conducted by Gartner, corporate use of AI grew 270% over the past four years. But developing, deploying, and managing AI applications at scale requires a platform that supports doing so, which is what startup company Iguazio provides. Its investors believe it has legs: Iguazio announced that it has secured $24 million in a funding round led by INcapital Ventures with participation from existing and new investors including Samsung SDS, Kensington Capital Partners, Plaza Ventures, and Silverton Capital Ventures, bringing its total raised to around $75 million following a $33 million series B in July 2017.

“This is a pivotal time for AI. Our platform helps data scientists push the limits of their real-time AI applications and see their impact in real business environments,” said CEO Asaf Somekh, who cofounded Iguazio in 2014 with former senior software developer and architect Orit Nissan-Messing and Voltaire colleagues Yaron Haviv and Yaron Segev. “With support from INcapital, Kensington Capital Partners, and our other investors, we are ready to expand our international team and reach our ambitious goals.”

Iguazio’s product suite collects data and preps it offline or offline, accelerating and automating AI model training for deployment via APIs. Event-driven streaming, time series, NoSQL, SQL, and files are among the types supported, which can be explored and manipulated by a real-time data layer that lets admins use a variety of protocols and concurrently read the data with third-party analytics and data science frameworks. View More