Real-Time Data Ingestion Platform Equalum Raises $18 Million to Fuel Global Expansion
SUNNYVALE, Calif., May 29, 2019 /PRNewswire-PRWeb/ -- Equalum (https://equalum.io), the leading Data Beaming technology provider enabling enterprises to seamlessly transport data throughout the enterprise, is excited to announce $18 million in Series B funding.
The round was led by Planven and joined by United Ventures and other European investors, with the participation of existing investors, Innovation Endeavors and GE Ventures. The Series B investment brings the company's total funding raised to date to $25 million.
"There is an exploding global demand for solutions to help companies harness the power of their data to make faster, better decisions," said Equalum CEO Nir Livneh. "Our strategic partnership with some of the most respected and knowledgeable tech investors in Europe will accelerate our growth in this critical market."
Equalum enables data-rich enterprises to easily consolidate data from disparate systems into central stores like warehouses and data lakes to power real-time analytics. The technology harnesses the power of open source big data frameworks like Spark and Kafka in a fully-managed solution that requires no manual configuration, coding, or maintenance.
Many companies still rely on traditional extract-transform-load (ETL) technologies to centralize operational data for analysis. Relative to these solutions, Equalum's technology has been proven to drive performance gains of up to 15x and total cost savings of up to 10x in Fortune 100 companies.
"The need for access to real-time insights across industries including manufacturing, finance, healthcare, retail, and media has never been greater," said Giovanni Canetta Roeder, Managing Partner at Planven. "Equalum brings a visionary and battle-tested approach to solving this problem."
Equalum's portfolio includes a global footprint across four continents and multiple Fortune 100 companies. The company previously reported 7x year-over-year growth.
The Series B funding will enable Equalum to power the next phase of its growth strategy, which consists of both geographic expansion within Europe as well as the establishment of a robust channel and technology partner network.
"With a very limited investment in sales and marketing, Equalum has proven the value of its solution on the enterprise stage," said Paolo Gesess, Managing Partner at United Ventures. "The next step is to build an ecosystem to power global distribution."
About Equalum
Equalum (https://equalum.io) is the first Data Beaming platform, capable of instantly teleporting operational data from any source to real-time analytics environments. Built for scalability and ease of use, Equalum harnesses the power of Spark in an enterprise-grade environment - helping organizations accelerate past traditional ETL or open-source implementations. Headquartered in Silicon Valley and Tel Aviv, Equalum is proud to work with some of the world's top industrial, financial, and media enterprises.
About Planven
Planven invests globally in high-tech businesses with proven and distinctive technologies, providing capital and real active business development support leveraging its deep network of European corporates.
About United Ventures
United Ventures SGR is an Italian independent early-stage Venture Capital firm investing in innovative companies, focused on software and digital technologies Founded in 2013 by Massimiliano Magrini and Paolo Gesess, United Ventures has 150 million Euro of assets under management over two funds raised from Italian and international institutional investors. The firm supports new and serial entrepreneurs in developing technology companies that have the ambition to grow at international level, radically innovating high-growth potential sectors.
SOURCE Equalum
