- Ocient secures $49.4M to enhance database capabilities for AI and machine learning applications.
- Company differentiates from competitors like Snowflake by focusing on analyzing massive datasets.
- Ocient expands data platform to include machine learning and geospatial features, targeting various industry verticals.
Ocient raises $49.4M to enhance hyperscale database capabilities, focusing on AI and machine learning applications. The company aims to expand its offerings for various industry verticals with massive datasets, differentiating itself from competitors like Snowflake.
What to know: Ocient, a hyperscale data warehouse vendor, has secured $49.4 million in new funding to enhance its database capabilities for various industry use cases and the growing demand for artificial intelligence (AI). This latest funding round brings the total amount raised by Ocient to $119 million. Founded in 2016 by CEO Chris Gladwin, the company's main objective is to develop and provide a data analytics platform that can efficiently handle hyperscale workloads, potentially involving trillions of data rows. Ocient has recently expanded its data platform to include machine learning and geospatial features, aiming to stand out from competitors like Snowflake by focusing on analyzing the largest datasets to drive better business outcomes.
Deeper details: Ocient's core mission is to enable organizations to analyze massive datasets rapidly, with a particular emphasis on supporting AI and machine learning applications. The company's platform assists users in transforming raw data into formats suitable for advanced analytics, a process that can be intricate and time-consuming, especially for hyperscale datasets. Ocient is active in sectors such as telco, ad technology, and security, where organizations deal with extensive datasets containing up to a trillion rows of information. By offering preprocessing and data transformation capabilities, Ocient ensures that data is prepared for AI and ML applications, with the OcientML service providing AIML functions for clustering and regression query operations.
Looking ahead: Looking ahead, Ocient plans to broaden its focus on different industry verticals that require analyzing massive datasets, such as climate intelligence for applications like real estate, urban planning, and agriculture. CEO Chris Gladwin highlighted the company's goal to expand its hyperscale data warehouse into more vertical markets beyond its core sectors of telco, security, adtech, and financial services. Ocient aims to make climate analysis more accessible by demonstrating that it can be performed on a small cluster of cost-effective servers, eliminating the need for a supercomputer. By aligning with industry trends and evolving customer needs, Ocient is poised to continue its growth and impact in the data analytics space.
