SQream, provider of a data analytics acceleration platform that enables enterprises to gain insights from their massive data stores, announced that it has raised $39.4 million in Series B+ funding. The round was led by Mangrove Capital Partners and Schusterman Family Investments, who joined existing investors, including Hanaco Venture Capital, Sistema VC, World Trade Center Ventures, Blumberg Capital, Silvertech Ventures and Alibaba Group. The proceeds of the investment will be used to recruit top talent to accelerate advancements in the Company’s technology and cloud innovation, and customer delivery platforms to better serve worldwide demand.
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While the COVID-19 pandemic created a major challenge for some companies, SQream’s growth is accelerating and the Company chose to raise funds from top new investors, and to add veteran investor Charlie Federman from Silvertech Ventures, and leading venture capitalist Roy Saar from Mangrove Capital Partners to its board of directors. This round of financing further underscores both the company’s existing and new investors’ confidence in SQream, and the team’s ability to deliver business critical innovation to leading global enterprises.
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“I have watched with enthusiasm the product innovation and resulting customer enthusiasm that SQream has earned from large global customers,” said Charlie Federman, Partner at Silvertech Ventures. “I am excited to be joining SQream’s board of directors at this critical time in its growth into the cloud, and believe that SQream will be a really important vendor for enterprises that need help getting timely critical insights from their data.”
SQream’s data acceleration platform enables the fastest available analysis of hundreds of terabytes to petabytes of raw data from Hadoop or other data warehouses and databases. With SQream in their data pipeline, enterprises gain unrestricted access to their data, and are free to focus on uncovering new business powering insights.