NeuroBlade, a analytics company from Israel that was established in 2018, has secured $83 million in Series B funding, bringing the company’s total invested capital to $110 million. The additional financing will be put to work as the company intends to expand its engineering teams in Tel Aviv and build out its sales and marketing teams worldwide.
Led by a team seasoned in system and silicon design from companies like Intel, Marvell, SolarEdge and TI, NeuroBlade has set a new standard in query processing speed.
NeuroBlade has created a novel architecture for data analytics, which would eliminate major bottlenecks in data traffic by combining the memory processing function, also known as memory processing (PIM). For decades, PIM has been a pipe dream, and NeuroBlade is the one of first businesses to bring this invention to production effectively. By combining its technologies in one complete system-level appliance that is easy to deploy, NeuroBlade helps speed up data analysis and unclog typical bottlenecks.
The Series B investment was led by Corner Ventures with contribution from Intel Capital, and supported by current investors StageOne Ventures, Grove Ventures and Marius Nacht. Additionally, technology companies including MediaTek, Pegatron, PSMC, UMC and Marubeni also provided funding during this round.
Patented XRAM Technology
With more than 100 employees and growing, NeuroBlade has begun shipping its data accelerator to “leading-edge” clients and partners globally. It has seen these partners starting to integrate and deploy NeuroBlade into the world’s largest data centers.
“We invented a new building block in computer architecture so organizations can quickly answer critical problems facing society and vastly improve business opportunities,” said Elad Sity, CEO and co-founder of NeuroBlade. “Our team is at the core of this success. Together, we built a data analytics accelerator that speeds up processing and analyzing data over 100 times faster than existing systems. Based on our patented XRAM technology, we provide a radically improved end-to-end system for the data center.”
Existing system architectures would show that the constant shuffling of data between storage, memory, and central processing is the primary cause of poor application performance and slow response times. NeuroBlade recognized that current architectures cannot scale to meet future data analytics needs. It led them to build a computational architecture that eliminates the data movement requirements and massively speeds data analytics performance.
“SAP looks forward to continuing to work with NeuroBlade on their new PIM-based data analytics acceleration solution,” said Dr. Patrick Jahnke, head of the innovation office at SAP. “The performance projections and breadth of use cases prove great potential for significantly increased performance improvements for DBMS at higher energy efficiency and reduced total-cost of ownership on-premises and in the cloud. Through this exciting collaboration with NeuroBlade, SAP will unlock new possibilities to build the data center of the future.”
“In an increasingly digitized world, data empowers businesses to make more informed and precise decisions than ever before,” said Roi Bar-Kat, Head of Intel Capital Israel. “With NeuroBlade’s scalable solution, organizations are better equipped to quickly extract insights needed to make key decisions. Intel Capital is looking forward to supporting the NeuroBlade team as they work to bring increased efficiency and scale to data processing.”