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Highly advanced and next-generation big data analytics startup Kyliegence has raised $70 million in its latest Series D round of funding, announced on Wednesday.
Kyligence is a San Jose-based company that offers an AI-powered analytics platform that is capable of delivering sub-second query response time against petabytes of data. It was originally named Kylin Technology developed by the founders of Kyligence at eBay’s China of Excellence in Shanghai, China. Later in 2015, it was contributed to the Apache Software Foundation.
Then in 2016, Kylin launched Kyligence to offer a commercial version of the open-source technology with additional features and capabilities to support firms out there. Talking about the system’s core OLAP (online analytical processing) functionality that pre-aggregates data in multi-dimensional indexes help in the great acceleration of queries and data analysis.
And recently in January 2021, the firm launched Kyligence Cloud 4, it is the first cloud-native release by the Kylin platform.
The Kyligence business model or system is based on Apache Kylin, a distributed analytics engine for performing multi-dimensional analysis on massive datasets.
The company stated that it will integrate the raised funds to continue improving its global expansion and rapid customer adoption. The funding was mainly led to fuel the company’s research and development efforts in building cloud-native and machine learning technology.
While expressing the excitement and market scenario, Luke Han, Co-founder and CEO stated- “Today’s cloud data warehouses and data lake analytics are struggling to deliver cost effective analytics as data and user volumes explode”. He added- “Kyligence can vastly improve the economics of these platforms via our cloud-native architecture and AI-augmented operations.”
Lastly, he added more and said- “Coupled with a unified semantic layer, Kyligence customers can expect unprecedented performance and concurrency at the least possible cost”. “Our investors understand that our commitment to this kind of innovation, customer focus, and cost control for cloud analytics has us moving in the right direction.”
