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Big data analytics firm lands another round just six months after Series A
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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Ayasdi is transforming how the world uses data to solve complex problems. Founded in 2008 after a decade of research at Stanford, DARPA, and NSF, Ayasdi is pioneering a new approach for enterprises to automatically discover and operationalize insights from their data. Ayasdi’s Insight Discovery platform uses Topological Data Analysis (TDA) combined with an ensemble of machine learning techniques to enable data scientists, domain experts, and business people to achieve value from their data without the need to write code, queries or ask questions.
Joined Vator onGurjeet Singh is a co-founder of Ayasdi, has a Ph.D. in Computational Mathematics from Stanford University. Gurjeet led the creation of Ayasdi’s core technology and machine-learning algorithms.