Analytics Solutions Firm Ocient Raises $40m

In the US, data analytics solutions (DAS) company Ocient has raised $40m in a Series B round of funding, which it will use to expand its engineering, customer success, operations, and sales and marketing teams - with headcount expected to double to 150 by the end of 2021.

Co-founded in 2016 by CEO Chris Gladwin (pictured), Joseph Jablonski, and George Kondiles, Chicago-based Ocient provides massive scale data analytics solutions with built-in machine learning, to help optimize performance. The tool offers hardware in the cloud or on premise, allowing customers to run queries in seconds. Ocient can be deployed in auction and exchange analytics, security, and geospatial customer use cases, all built on the proprietary DAS using industry-standard interfaces and hardware, which the firm says can hold quadrillions of rows of data, ingress billions of rows per second, and filter and compute across trillions of rows per second.

New funding was led by OCA Ventures and Greycroft, with participation by Valor Equity Partners, PSP Partners, Hyde Park Angels, Pritzker Group Venture Capital, Gaingels, and the MIT and Northwestern University chapters of Alumni Venture Group. The Series B round brings the total raised to date to $65m. Jim Dugan, Managing Partner at OCA Ventures, comments: 'As a lead investor from inception to exit in Chris's prior data start-up, Cleversafe, we experienced first-hand management's ability to convert brilliant innovation into revolutionary commercial success. We are thrilled to include a world-class firm like Greycroft and our other co-investors to help Ocient achieve dramatic results.'

Web site: www.ocient.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.