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Splice Machine Raises $16 Million for its AI enabled Data Platform

Splice Machine Raises $16 Million for its AI enabled Data Platform

Splice Machine announced it has closed $16 million ins Series B funding round. Total funding raised by Splice Machine is USD $58 Million to date.

The latest funding round was led by GreatPoint Ventures (GPV). Other participants in the latest funding round include Accenture Ventures, Allen Miner, CEO of the SunBridge Group, who was responsible for founding Oracle Japan, Salesforce.com Japan, and Concur Japan.

Founded in 2012, San Fransisco based Splice Machine is disrupting the traditional database market with its operational AI data platform. Powered by Apache Hadoop and Apache Spark, Splice Machine uses the open-source dual-engine RDBMS for mixed operational and analytical workloads. Operational workloads are executed on Apache HBase and analytical workloads are executed on Apache Spark. The platform is scalable, real-time, easy-to-use and combines the functionality of a relational database (RDBMS), data warehouse and machine learning in one unified platform.

Executive Opinion

Co-Founder and CEO of Splice Machine, Monte Zweben, said, “The speed and quality of decision-making is the most potent weapon in the corporate arsenal today. Whether humans or machine learning models are making the decisions, access to the data and computation must be blazingly fast. Splice Machine removes latency from applications to speed high-quality decision-making with an integrated data platform, enabling enterprises to make intelligent decisions in mission-critical applications.”

Accenture’s chief technology and innovation officer and co-author of Human + Machine: Reimagining Work in the Age of AI, a management playbook for the business of AI, Paul Daugherty, said, “The Splice Machine operational AI platform strengthens our ability to deliver on the power of artificial intelligence. With Accenture and Splice Machine’s combination of operational, analytical, and intelligent capabilities, we can embed intelligence at the core of our clients’ business to make them more agile and become leaders in the age of new IT.”

The AI enabled Data Platform Growth

The announcement quoted some interesting figures from the IDC global market intelligence report. The new emerging machine learning market wich stated machine learning market is to grow by USD $8.07 billion by 2023 from $1.58 billion in 2017, the data warehouse market is expected to grow by more than 40 percent, from $14 billion in 2017 to $20 billion in 2020, the operational database market is expected to reach USD $60 billion by 2022.

Splice Machine has tripled its customer count and revenues last year. With the latest funding, Splice Machine plans to further innovate its data platform, expand its global go-to-market team, and grow its world-class distributed engineering and customer success teams across the U.S. and around the world.

Splice Machine further said that it will partner with Accenture to meet global demand for operational AI platforms and large scale digital transformation. Accenture Ventures also joined the investment round to strengthen partnership for delivering operational AI in mission-critical business applications.

Splice Machine's AI platform supports on-premises as well as in the cloud deployment models.

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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