PALO ALTO, Calif.--(BUSINESS WIRE)--Ayasdi, the leader in Machine Intelligence software, announced more than 400 percent bookings growth for fiscal year ended Jan 30th, 2015, and a new $55M round of Series C funding, led by Kleiner Perkins Caufield & Byers (KPCB), and joined by existing investors, Institutional Venture Partners (IVP), Khosla Ventures, FLOODGATE, Citi Ventures, and new investors, Centerview Capital Technology and Draper Nexus.
Ayasdi’s Machine Intelligence software solves the most complex and impactful analytical challenges for Fortune 500 companies around the globe. In the previous 12 months, Ayasdi’s customer roster grew substantially to include Citigroup, Credit Suisse, Siemens, Lockheed Martin, Mercy Health System, Mount Sinai School of Medicine, UCSF Medical Center, and other leaders in financial services, technology, healthcare, government and life sciences. In addition, Ayasdi announced partnerships with Cloudera, Hortonworks, Intel and Teradata.
“By combining many machine learning algorithms together with topological mathematics and artificial intelligence, Ayasdi developed an entirely new approach that simplifies complex data analysis for large organizations,” said Ted Schlein, General Partner at KPCB. “Machine Intelligence is one of the breakthrough innovations that will drive the next information and productivity wave in the coming decade.”
“Ayasdi’s impressive growth over the past two years signals the emergence of Machine Intelligence as a compelling technology for tackling complex datasets,” said Steve Harrick, General Partner at Institutional Venture Partners (IVP). “Ayasdi’s progress in helping customers to derive powerful insights from their data assets demonstrates the extraordinary value of this new category of ground-breaking software.”
“Mercy, the fifth largest Catholic health care system in the U.S., and a ‘Most Wired’ health care organization, is a recognized leader in applying innovative technologies to produce break-through patient outcomes and superior ROI,” said Vance Moore, Senior Vice President Operations at Mercy. “Using our vast repositories of clinical and patient data, we see Ayasdi’s capabilities as a critical element to reduce costly clinical variations and improve our operational best practices, leading us to harvest millions of dollars in unnecessary expenses, all while improving the lives and welfare of our patients.”
"Ayasdi’s software represents a new breed of analytics for delivering accelerated insights from large and complex data sets,” said Michael May, Head of the Technology Field Business Analytics & Monitoring, Siemens Research and Technology Center. “We’re excited to apply this technology to our most challenging analytic problems, that will produce impactful business results and improve our bottom line.”
Customers Discover Breakthrough Insights That Deliver Significant ROI
Ayasdi currently does business with three of the five largest financial institutions in the world. The company’s financial services customers use Ayasdi to enhance their consumer credit decisions, accelerate the development and accuracy of risk and regulatory models, optimize services for private banking clients, and improve fraud detection models. In each case, financial institutions are finding critical insights and patterns that return hundreds of millions of dollars in ROI.
"Citi's unmatched multinational business footprint creates a complex data analytics landscape,” said Deborah Hopkins, Chief Innovation Officer of Citi and CEO of Citi Ventures. “Ayasdi’s big data technology simplifies and accelerates the analysis of thousands of discrete variables and delivers insights that enable Citi to tailor services to specific client needs, operate more efficiently and mitigate risk."
“Credit Suisse intends to lead our industry in understanding complex datasets. We evaluate employing the world’s most advanced analytic technologies, to gain the greatest possible advantage for our clients,” said Marco Abele, Head of Digital Private Banking at Credit Suisse. “At today’s accelerated pace of business, rapidly uncovering subtle signals across our massive data sources, would help us to deliver superior results for our clients.”
Ayasdi expanded its healthcare portfolio with client wins in both the provider and payer space. Healthcare service providers rely upon Ayasdi to analyze extensive clinical records to identify best practices that will improve both patient and financial outcomes. Ayasdi can analyze a broad set of data types (e.g. lab tests, pharmaceuticals, patient records and billing information) to find important patterns that reduce costs while delivering a higher quality of care. Additionally, healthcare payers are leveraging their data to improve their revenue cycle through better identification of fraud, waste and abuse within their claims processing operations.
"Our mission is to detect and help diagnose disabling spinal cord and brain injuries, that would not necessarily show up on a standard MRI,” said Adam Ferguson, Assistant Professor and Wings for Life and GE-NFL Head-Health Challenge Principal Investigator, Brain and Spinal Injury Center at the University of California San Francisco Medical Center. "By analyzing brain image scans and clinical information, Ayasdi’s intelligent analytics software helps us quickly find critical patterns in our data that would be extremely difficult to identify with conventional statistical tools."
Government contractors improve their programs’ performance by leveraging Ayasdi’s analytic software to examine textual, schedule and financial data.
"Ayasdi’s Topological Data Analysis (TDA) is complementing our data analytics solutions by uncovering insights from program performance data – previously hidden or overlooked by conventional analytics,” said Prakash Sesha, Senior Manager of Data Analytics Research at Lockheed Martin. “We can enhance our business decisions and overall business performance by applying new Machine Intelligence solutions to discover powerful insights within our complex data.”
Government agencies utilize Ayasdi to improve the effectiveness of threat detection systems. In each case, Ayasdi brings a new level of data inspection that produces financially significant and life-saving results.
In Life Sciences, today’s challenge is distilling massive amounts of clinical trial data into effective therapies. Using Ayasdi’s software, bioinformaticists can expedite biomarker discovery, detect adverse events early, avert late-stage failures, and enable targeted patient cohort selection.
“Analyzing genomic data with up to millions of genetic markers per patient, can lead to better diagnoses and treatment of diseases such as Type II Diabetes, schizophrenia, and cancer,” said Eric Schadt, Director, Icahn Institute for Genomics and Multiscale Biology at Mount Sinai School of Medicine. “Ayasdi’s Machine Intelligence software aids our researchers in segmenting and analyzing our extremely complex datasets, which will result in better therapies and cures for these common diseases.”
Leader in Machine Intelligence Powered by Topological Data Analysis (TDA)
In its most recent fiscal year, Ayasdi extended its leadership position in the industry by enhancing the speed, usability and reach of its analytical solutions. Ayasdi pioneered the use of Topological Data Analysis (TDA), which applies the mathematical principles of shape, to quickly identify meaningful patterns and values within complex datasets. TDA encompasses and enhances the broad set of statistical, geometric and machine learning algorithms used to analyze complex datasets today. Today’s time-consuming, iterative approach to data analysis relies upon specialized experts to ask the right questions and oftentimes write code. By contrast, Ayasdi’s Machine Intelligence software employs a data-driven approach that thoroughly inspects the entire dataset, to find the most important patterns, values and anomalies. It accelerates the discovery process, and improves the quality of the analysis, empowering domain experts and data scientists to apply these insights to their business more efficiently and effectively. Furthermore, Ayasdi’s simple and powerful results enable corporations to quickly operationalize these insights into their daily modeling and decision-making processes.
“Our mission is to make complex data useful for all organizations and businesses,” said Gurjeet Singh, CEO of Ayasdi. “Our customers’ ability to comprehensively find critical insights within their data is falling behind the exponential rate of their data growth. With our Machine Intelligence software, you can take control of your data to drive impactful and transformative business decisions faster.”
Ayasdi Expands Reach Into New Industries and Use Cases
Ayasdi debuted new solutions for the life sciences, healthcare, financial services and government sectors in 2014. Ayasdi will use the proceeds of this new round to push into new sectors, including retail, information services, manufacturing, energy and technology with investments in engineering, data science, sales and marketing.
“Due to the universal need for complex data analysis across industries, and our software’s ability to ingest categorical, continuous, textual and image data, we foresee broad deployment for our technology,” said Gunnar Carlsson, President of Ayasdi. “Machine Intelligence software will re-define decision-making processes in the modern enterprise by rapidly driving new insights from large and complex datasets.”
Ayasdi is on a mission to make the world’s complex data useful by automating and accelerating insight discovery. The company’s Machine Intelligence software employs Topological Data Analysis (TDA) to simplify the extraction of knowledge from even the most complex data sets confronting organizations today. Developed by Stanford computational mathematicians, Ayasdi’s approach combines machine learning algorithms, abundant compute power and topological summaries to revolutionize the process for converting data into business impact. For more information, visit http://www.ayasdi.com or follow us on Twitter @Ayasdi.
About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, Netscape and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. For more information, visit https://www.kpcb.com and follow us @kpcb.
About Institutional Venture Partners (IVP)
With $4 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies, 101 of which have gone public. IVP is one of the top-performing firms in the industry and has a 34-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments include such notable companies as AppDynamics, ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Datalogix (ORCL), Dropbox, Dropcam (GOOG), Fleetmatics (FLTX), HomeAway (AWAY), Kayak (PCLN), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), ngmoco (DeNA), OnDeck (ONDK), Pure Storage, RetailMeNot (SALE), Shazam, Snapchat, Supercell, Synchronoss (SNCR), The Honest Company, Twitter (TWTR), and Zynga (ZNGA). For more information, visit http://www.ivp.com or follow IVP on Twitter @ivp.