Molecula Closes $6 Million Seed Round to deliver Zero-copy Data Virtualization to power Advanced Analytics and AI
AUSTIN, Texas, Aug. 22, 2019 /PRNewswire/ -- Molecula, an enterprise software company reinventing the Data Virtualization category with a focus on performance, portability and control of data, today announced that they have closed an oversubscribed $6m seed round. This new round follows their recent rebranding from Pilosa to Molecula earlier this year.
Enterprises are using AI and Advanced Analytics to turn their growing data--which is distributed across the enterprise in multiple formats, types, and locations--into insights, but the number one bottleneck is the access to all of this data. Current information era techniques involving batching, indexing, federation, aggregation, sampling and caching, leads to long information request cycles and make real-time business decisions almost impossible. This is the reason why 80% of all AI and Analytics projects fail to deliver on expectations. Molecula helps these organizations accelerate and de-risk their analytics and AI projects by making data across multiple sources, types and locations instantly available through a high performance virtualized access layer. Molecula's patented zero-copy data virtualization approach makes a representation of the data securely portable and instantly actionable.
The global Enterprise Data Management Market is expected to reach $146 billion by 2023, growing at 12% CAGR. While large, nothing currently in this market solves the need to integrate the data silos, provide real-time access to large disparate data sets, and make the data ready for AI and deliver advanced analytics in its entirety. This creates an opportunity for Molecula. Forrester reports that business stakeholders at the executive and line-of-business levels need data faster in order to keep up with customers, competitors, partners and declining productivity.
"At Forrester, we believe that organizations have to take a modern approach to future proof their data management architecture by laying a foundation that will deliver analytics at the speed of transactions, a data fabric architecture that overcomes data silos in a multi-cloud environment, and provides decision agility to the business with trusted data," said Michele Goetz, Principal Analyst, Forrester Research.
Molecula announced that it will be using these funds to accelerate its product roadmap, and to expand its go to market efforts. Investors joining the round include Seraph Group, Lontra Ventures, Velar Capital, Capital Factory, Andrew Busey and Jason Dorsey.
"At the dawn of the intelligence era, it is imperative that organizations build deep analytics and machine-led decision capabilities into the fabric of their culture. To do this, we need a completely new paradigm to replace the debilitating information era techniques that simply make more and more copies of your data just to glean insights from it," said H.O. Maycotte, CEO of Molecula. He added, "our approach brings a new set of radical innovations that are orders of magnitude faster, more secure and less expensive to operate than the brute force approaches of today. More importantly the simple elegance of these new architectures will lay the foundation for a network of data assets that will underpin the human-machine partnership, driving trillions in economic value for enterprises in the coming decade."
The company also announced that their clients and partners include some of the largest brands in the media, entertainment, technology and healthcare sectors. Key solutions deployed include real-time customer segmentation, real-time security and fraud detection and accelerating business intelligence and machine learning projects.
"We are using Molecula to analyze fraudulent activity across 100,000,000 monthly login events in real time. With Molecula and our data pipeline, we are able to analyze this volume of data and allow our teams to focus on innovation to create value for our customers," said Adam Blue, Chief Technology Officer, Q2 Holdings.
About Molecula
Molecula is a Data Virtualization company that enables humans and machines to make better decisions. Enterprises trust Molecula's Data Virtualization platform to enable instantaneous, secure access to large, fragmented, and geographically dispersed datasets to support the most demanding Advanced Analytics and Machine Learning workloads. Built on Pilosa, the open source project, their core technology has been used by over 1,800 organizations globally and provides a novel way to make data AI ready.
Molecula is headquartered in Austin, Texas, and was founded in 2017 with a commitment to building community-driven, software that unlocks the full power of AI.
To learn more about Molecula, visit: http://www.molecula.com
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SOURCE Molecula
