Big Data company Ayasdi hits US$30.6 million in venture capital
Ayasdi raised US$30.6 million in venture capital funding to assist in distributing its technological innovation that finds solutions to questions well before their clients ask for them. The Palo Alto-based Big Data company is led by Gurjeet Singh.
The latest round of capital funding was led by Institutional Venture Partners. Steve Harrick of Institutional Venture Partners is joining the board as part of the transaction. New investors include institutional investors, GE Ventures and Citi Ventures. Ayasdi's enlisting of two large institutional investors, Citigroup and GE Capital, should allow it to widen opportunities of two of its target sectors, finance and manufacturing.
Earlier investors the participated in the funding included Floodgate Capital and Khosla Ventures. Ayasdi previously raised US$14 million.
In the first six months of the firm's operations, Ayasdi had already clients in the government, oil and gas industry, and in the pharmaceutical industry as well.
Executives from the company said that they were producers of Big Data technology while also being consumers of Big Data technology, making relationships with other Big Data companies essential.