GigaSpaces secured $12 Million in funding from Fortissimo Capital

GigaSpaces, a New-York-based provider of in-memory real-time analytics and data processing platform, has secured $12 million in the funding round.

GigaSpaces is founded by Adi Paz; it offers an in-memory computing platform for real-time insight into action and extreme transactional processing.

With GigaSpaces, enterprises can operationalize machine learning and transactional processing to gain real-time insights on the data and act upon them at the moment.

Executive Opinion

Adi Paz, CEO of GigaSpaces, said, “Data is a critical strategic asset that must be managed and leveraged correctly to provide insights, intelligence, and actions for modern services and applications such as real-time fraud detection, risk analysis, instant payments, personalized offers, customer 360, dynamic pricing and more. This funding will help us drive accelerated growth to help more customers deliver on their data-driven promise.”

Yoav Hineman, Partner at Fortissimo Capital, said, “Today, organizations must remain competitive, and require the agility to develop and deploy real-time data-driven services and applications that improve the customer experience while optimizing their business operations. GigaSpaces’ modern data platform and impressive track record of driving the digital transformation initiatives at tier-1 enterprises from Fortune 500 companies such as financial services, insurance, health services, eCommerce and transportation, confirm GigaSpaces proficiency in addressing today’s and tomorrow’s customer challenges.”

GigaSpaces's Latest Funding

The always-on platforms for the mission-critical applications across cloud, hybrid, on-premise, are used by Tier-1 and Fortune listed organizations across the globe across the retail, transportation, telecom, healthcare, financial services, and more.

The round was backed by the Fortissimo Capital with participation from existing investors BRM Group and Claridge Israel.

The company, as of now, has plans to use the new funds to accelerate rapid growth, develop collaboration with partners, accelerate product innovation, and scale global expansion.

GigaSpaces offices are located in Europe, Asia, and the US.