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IVP, GE Ventures, Citi Ventures invest $30.6M in Ayasdi

Big data analytics firm lands another round just six months after Series A

Financial trends and news by Bambi Francisco Roizen
July 16, 2013 | Comments
Short URL: http://vator.tv/n/30a9

Clearly big bets are being made on companies that can demonstrate an ability to organize, manage, manipulate and make sense of it. 

Ayasdi, which incorporated in 2008, just raised $30.6 million in a Series B round of financing from IVP, GE Ventures and Citi Ventrues. The new round comes just six months after the company raised a Series A from Khosla Ventures and FLOODGATE.  We wrote an extensive write-up back then. You can read it here. As we mentioned, Ayasdi's approach to data analytics combines machine-learning techniques with Topological Data Analytics (a branch of mathematics).

"We're using machine-learning methods and anthropology to discover insights from data," said Singh, adding that "The key insight is that data has shape and topology helps us to discover those insights [by seeing the different shapes]," said Gurjeet Singh, CEO and co-founder of Ayasdi, in a past interview with me. 

To date, the company is working with a number of large corporations and organizations, such as General Electric, Citigroup and Merck.

 


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