Three months into its rebrand, GPU-accelerated analytics innovator OmniSci (formerly MapD) is reporting “wide-ranging growth” including significant increases in revenue run rate and the size of its customer base. The company credits its growth to the success of its technology that enables organizations to conduct advanced big data analytics “at extreme speed.”
“OmniSci’s customers are increasingly battling against the limitations of mainstream analytics tools in the age of big data,” OmniSci CEO Todd Mostak explained. He pointed to the processing challenges that are common in high-frequency decision-making – interactive queries and visualization of large datasets – as beyond the capabilities of CPU-based solutions. “Our momentum, especially in the past 12 months, has proven the value of our technology for querying and visualizing big data at the speed of curiosity.”
In a statement, the company announced a set of expansion plans for 2019, including doubling its workforce by the end of the year, and a move into new San Francisco headquarters in the first half of 2019.
2018 featured the launch of OmniSci’s MapD Cloud, the first SaaS-based, GPU-accelerated analytics solution. The company announced partnerships with NVIDIA and Pure Storage in the fall, ahead of its corporate rebrand announcement in October. Also in October, the company finished a $55 million Series C round that brought the company’s total capital to $92 million. Tiger Global Management, New Enterprise Associates, Vanedge Capital, In-Q-Tel, Verizon, Google Ventures and NVIDIA are among the company’s investors.
As MapD, the company demonstrated its MapD Core and MapD Immerse solutions at FinovateSpring 2018. MapD Core represents the platform’s GPU-powered database and MapD Immerse is the platform visualization engine. The database runs across multiple GPIs, supporting analysis of multi-billion row datasets by multiple users. The company’s visualization engine uses GPUs to render billions of points on the front end without the network bottlenecks common to other systems.
GPU-based systems promise to enable more companies to take advantage of big data. “The sheer volume of data is often an impediment to processing information and completing analyses in a timely way,” Constellation Research VP and analyst Doug Henschen said. “GPU acceleration is a cutting-edge method that leaders and fast-followers are embracing to quickly gain insight without sacrificing in-depth analysis.”
Curious about which companies will be demonstrating their latest technologies at FinovateSpring this year? Stay tuned to our FinovateSpring page to find out!