Norwegian big data analytics firm Swarm64 has raised $12.5 million in Series B funding led by Intel Capital and Investinor with participation from Alliance Venture and Target Partners.
The new funding will be invested in further development of the company’s scalable data accelerator (SDA) for real-time big data analytics.
More and more industries are feeling the need to improve their data analytics and processing in order to stay competitive, said Karsten Rönner, CEO of Swarm64. “The Swarm64SDA enables anyone with basic skills in relational databases to gain deep new business insights in less time,” he said.
The Oslo-based company previously raised €7 million in a Series A round in 2015 and has an office in Berlin.
“Swarm64 developed a disruptive approach to accelerate relational databases,” added Michael Münnix of Target Partners. “The technology provides orders of magnitude faster performance, bringing real time applications to a broader commercial market.”