TEL AVIV, Israel--(BUSINESS WIRE)--NeuroBlade, the next generation of data acceleration solutions, announced today that it has secured $83 million in Series B funding, bringing total invested capital to $110 million. The investment was led by Corner Ventures with contribution from Intel Capital, and supported by current investors StageOne Ventures, Grove Ventures and Marius Nacht. Additionally, technology companies including MediaTek, Pegatron, PSMC, UMC and Marubeni also provided funding during this round. The financing will be put to work as the company expands its engineering teams in Tel Aviv and builds out its sales and marketing teams globally.
NeuroBlade has developed a new data analytics architecture that eliminates major data movement bottlenecks by integrating the data processing function inside memory, better known as processing-in-memory (PIM). PIM has been a pipe dream for decades, and NeuroBlade is the first company to successfully bring this innovation to production. NeuroBlade accelerates data analytics and unclogs traditional bottlenecks by integrating its technology into a full system-level easy-to-deploy appliance.
With more than 100 employees and growing, NeuroBlade has begun shipping its data accelerator to leading-edge customers and partners worldwide. This has seen these partners starting to integrate and deploy NeuroBlade into the world’s biggest data centers.
“We invented a new building block in computer architecture so organizations can quickly answer critical problems facing society and vastly improve business opportunities,” said Elad Sity, CEO and co-founder of NeuroBlade. “Our team is at the core of this success. Together, we built a data analytics accelerator that speeds up processing and analyzing data over 100 times faster than existing systems. Based on our patented XRAM technology, we provide a radically improved end-to-end system for the data center.”
Existing system architectures show that the constant shuffling of data between storage, memory, and central processing is the primary cause of poor application performance and slow response times. NeuroBlade recognized that current architectures cannot scale to meet future data analytics needs, which led them to build a computational architecture that eliminates the data movement requirements and massively speeds data analytics performance.
“Despite being tested like never before this past year, the data center kept the world operating at a critical time. We think that this market is poised for explosive growth and NeuroBlade looks to have a promising journey ahead,” said Lance Weaver, vice president and general manager of Data Center & Cloud Strategy at Intel. “Intel is proud to power NeuroBlade's platform with our portfolio of products. We look forward to our continued collaboration with NeuroBlade to optimize end-to-end performance.”
“SAP looks forward to continuing to work with NeuroBlade on their new PIM-based data analytics acceleration solution,” said Dr. Patrick Jahnke, head of the innovation office at SAP. “The performance projections and breadth of use cases prove great potential for significantly increased performance improvements for DBMS at higher energy efficiency and reduced total-cost of ownership on-premises and in the cloud. Through this exciting collaboration with NeuroBlade, SAP will unlock new possibilities to build the data center of the future.”
“Organizations run at the speed of their data. NeuroBlade is here to alter the pace of the race. Such is the impact that this technology will have on the global data center market. We fully expect NeuroBlade to be a major player in a very short time and why we are excited to join them at this critical moment in their growth,” said Corner Ventures partner Jonathan Pulitzer.
“In an increasingly digitized world, data empowers businesses to make more informed and precise decisions than ever before," said Roi Bar-Kat, Head of Intel Capital Israel. "With NeuroBlade's scalable solution, organizations are better equipped to quickly extract insights needed to make key decisions. Intel Capital is looking forward to supporting the NeuroBlade team as they work to bring increased efficiency and scale to data processing."
To learn more about NeuroBlade visit: https://www.neuroblade.com/
NeuroBlade was established in 2018 with the stated goal of enabling faster time to data insights by freeing analytics from memory constraints. Led by a team seasoned in system and silicon design from companies like Intel, Marvell, SolarEdge and TI, NeuroBlade has set a new standard in query processing speed and has received investments from a number of top-tier VCs and strategic investors, including, Intel Capital and MediaTek.