GPU-accelerated data warehouser SQream has put another round of VC cash in its pockets.
SQream took in $39.4m in a B+ round led by Mangrove Capital Partners and Schusterman Family Investments. Existing investors, including Hanaco Venture Capital, Sistema.vc, World Trade Center Ventures, Blumberg Capital, Silvertech Ventures and Alibaba Group, also pumped in cash. Total SQream funding is now $65.8m and this round follows a $19.8m B2 round in 2018.
The cash will pay for what SQream calls “top talent recruitment” to develop the product technology.
The company claims its growth is accelerating, despite the Covid-29 pandemic.
Two VCs – Roy Saar (Mangrove Capital and Wix founder) and Charlie Federman (Partner at Silvertech Ventures) will join the SQream board of directors.
A canned quote from Saar said: “Given the growth of data, which has been on a rocket-ship trajectory to zettabyte levels due to rapid digitalisation, we are just scraping the surface of how companies will be generating value from their data.”
The data warehouse business is on a roll, with Snowflake preparing for an IPO. SQream can’t afford to fall behind and its GPU turbo-charging should give it an edge.