Ocient, a data analytics software solutions company, has secured $49.4 million in funding to support the advancement of its product capabilities. The funding round was an extension of Ocient’s Series B financing and included new venture investors such as Buoyant Ventures and Levy Family Partners. The round brings Ocient’s total funding to $119 million.
The company specializes in delivering energy-efficient analysis of complex, large-scale data. Its platform offers a comprehensive solution for data transformation, complex query processing, artificial intelligence and more, enabling organizations to gain deeper insights and make data-driven decisions.
The growth of compute-intensive data workloads has led to a greater need for digital tools that can positively impact energy consumption, climate change and greenhouse gas emissions, according to the company. As a result of this increasing demand, Ocient experienced 109 percent year-over-year revenue growth in its last fiscal year. Its end-to-end software solutions work to minimize time, compute and energy consumption needed for data analytics and AI.
