YellowDog, which introduced its Limitless Compute technology at FinovateEurope last week, has scored a major investment in a round led by Bloc Ventures. The total amount of the funding was not disclosed. Featuring participation from Bristol Private Equity Club – and a successful Seedrs crowdfunding campaign – the round will enable YellowDog to tackle its next big challenge: big batch processing for financial services.
“The backing of Bloc proves that we are on the right trajectory with our offering,” YellowDog founder Gareth Williams said. “This fundraise will help YellowDog begin to unlock the massive potential in new sectors starting with financial services. Having Bloc as an investor means we can begin to leverage both their expertise and their network to support our growth.”
David Leftley, CTO and co-founder of Bloc, pointed to the unique nature of YellowDog’s offering as a reason for supporting the firm. “The ability of YellowDog’s technology to spin-up massive high performance computing grids already has been proven in the animation market and the potential to scale into other markets such as financial services and engineering fits perfectly with our investment strategy.”
More than 1,000 companies are using YellowDog’s platform to unleash the massive latent potential of their existing computer networks. Combined with the public cloud, the technology gives institutions secure and immediate access to hundreds of thousands of cores without the complication of relying on multiple vendors. Integrated within the company’s current IT infrastructure, the platform enables high performance computing clusters that securely extend any underutilized computing system.
The YellowDog platform can also burst batch workloads to preferred public cloud providers to ensure prompt batch processes. The company said its vendor-agnostic technology is “more flexible than virtualization, more resilient than high performance computing clusters, and less expensive to deploy than hyperconvergence.” Leftley praised YellowDog’s leveraging of both AI and machine learning as “a big differentiator in this market” and said Bloc Ventures was committed to helping the company “unlock (its) full potential.”
Shortlisted by the National Technology Awards 2018 last month in the Startup Tech Company of the Year category, YellowDog was founded in 2015 and is based in Bristol, U.K. The company announced its 1,000th user on its platform last fall – a milestone reached after just two years in operation – and has been awarded both the Bristol Life Technology and Innovation Award and Bristol Post Startup of the Year Award for 2017. Video of the company’s demo from its debut at FinovateEurope 2018 will be available soon.