TigerGraph raises $105mn for big data analytics
Redwood City, California-based TigerGraph offers cloud-based graph analytics for use in areas such as machine learning.
As analytics has moved into the cloud, companies are increasingly looking at gleaning new forms of insight into their data.
What is graph analytics?
Graph analytics involves analysing the connections between data points, with TigerGraph’s offering allowing the rapid formation of new models from data and deployed across multiple clouds, using relational databases to identify patterns and delivering recommendations.
The company hailed the impetus for digital transformation stemming from the ongoing COVID-19 pandemic as providing it with customer keen on gaining insights about their businesses.
“For over 40 years, business’s #1 data management challenge has been how to easily ask business questions across all of their data in real-time to guide their operations. The human brain connects data to derive new insights and helps us decide what to do next. TigerGraph’s mission is to power an enterprise brain with graph and AI that discovers these new insights within the enterprise data stored in the cloud and on-prem,” Dr. Yu Xu, founder and CEO of TigerGraph.
Serving Asia’s digital economy
The company said it would use the funds to assist with opening offices in the Asia Pacific region to tap into demand from its growing digital economy, with locations opening in Singapore and Indonesia.
Todd Blaschka, the company’s COO, : “Our mission is to help governments, businesses and people to unlock the power of their data and drive actionable, real-time insights-driven decision-making. TigerGraph already works with the top four largest banks in Asia helping these customers across areas such as Real-time Fraud Detection, Anti-Money Laundering, Credit Risk Assessment, and Customer 360 Analysis. We also work with key telcos in the region, enabling them to analyse customer behaviour and prevent fraud.”
KX and Microsoft partner to scale up real-time analytics
, a data analysis software developer and vendor, it has become a Microsoft Partner. The two companies are working together to build a long-term technical and go-to-market roadmap to enable companies to rapidly scale up their real-time analytics and decision-making capabilities.
This announcement has followed the launch of KX Insights, which is a cloud-first platform for streaming analytics that fully leverages the benefits of cloud architecture natively to deliver fast, scalable real-time data insights via the .
“KX Insights takes full advantage of the Microsoft Azure platform to deliver the optimal performance while maintaining interoperability with existing processes and data,” Gerry Buggy, Chief Strategy Officer at KX.
“Together with Microsoft, we are offering a streaming analytics solution that is fast, secure, and flexible. It’s a game-changer for firms looking to drive operational and commercial performance through real-time analytics.”
KX Insights has been built to leverage vast amounts of real-time data in a scalable and easy-to-use manner. It has been benchmarked as the fastest in the industry to independent STAC benchmarks. The platform also operates on Amazon AWS and Google Cloud, plus on all public and private clouds and on-premises too where required.
Moving to the cloud
The recent found that 92% of respondents reported having a multi-cloud strategy. 82% are taking a hybrid approach, combining the use of both public and private clouds. More than half of respondents use the cloud heavily and have reached the advanced cloud maturity level. 21% of organisations are at the intermediate maturity level, and 19% are beginners.
The report showed that many of the advantages delivered by the cloud have proven to be especially valuable as organisations adapted over the past year to meet the rapidly evolving needs of businesses.