Next-Gen Database Company SQream Raises $39.4M In Funding

Company will use the new financing to accelerate development of its SQream DB GPU database system, which the company positions as an alternative to legacy relational databases.

Next-generation database developer SQream Technologies has raised $39.4 million in Series B+ financing, additional funding the company plans to use to “recruit top talent” to accelerate development of its data analytics acceleration platform.

The funding round was led by Mangrove Capital Partners and Schusterman Family Investments, which joined existing investors Hanaco Venture Capital, Sistema.vc, World Trade Center Ventures, Blumberg Capital, Silvertech Ventures and Alibaba Group.

SQream, founded in 2010, is part of a wave of startup companies developing database software that’s designed to overcome the scalability and processing limitations of legacy relational database systems.

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SQream’s flagship product, SQream DB, is a GPU database that the company markets as a data analytics acceleration platform. The technology is capable of analyzing hundreds of terabytes – and even petabytes – of raw data from Hadoop or other data warehouse and database systems.

“From the very beginning, our vision has been to enable enterprises to analyze more of their data much faster, providing better, more accurate and comprehensive business insights,” said Ami Gal, SQream CEO and co-founder, in a statement. “We have made our vision a reality by continuously improving our product, and by investing in top developers who enjoy the challenge and motivation of deep tech product innovation.”

"The commitment we have received from both new and existing investors in this round, and from our customers, even during such a challenging period, is a strong validation of our vision and market potential," Gal said.

SQream said in a statement that it plans to use the investment proceeds from this latest round to “recruit top talent to accelerate advancements in the company’s technology and cloud innovation, and customer delivery platforms to better serve worldwide demand.”

SQream is headquartered in New York with research and development operations in Tel Aviv, Israel. The big data company has raised a total of $77 million in financing, according to the Crunchbase website, including $26.4 million in May 2018 in a funding round led by Alibaba.

SQream works with technology partners, systems integrators and solutions providers. In 2018 the company struck an alliance with Datatrend Technologies, a Minnetonka, Minn.-based solutions provider and systems integrator, to jointly develop next-generation data warehouse systems.