Kyligence is a data analytics platform built upon the free-source Apache Kylin analytics engine, capable of conducting multi-dimensional analysis of vast amounts of data.
The company developing next-generation data analytics, Kyligence, has completed a $700 million Round D financing; Kyligence announced the news on Wednesday.
The company said it would use the new money to “continue the growth of its global operations and accelerate customer adoption.” The funds are specifically intended to fund the research and development efforts of the company, particularly in the development of machine learning and cloud-native technologies. The company stated.
“Today’s cloud-based data warehouses, as well as the data lakes, are struggling to provide efficient analytics at a reasonable cost as user and data volume increase,” said Luke Han Kyligence’s co-founder and CEO in an announcement. “Kyligence will significantly improve the profitability of these platforms by using our cloud-native architecture as well as AI-enhanced operations.”
The round took place under the direction of SPDB International, with new investors Alpha Square Group, CICC, Gopher Asset Management, Shanghai Growth Capital, PUXIN Capital, and Jumbo Sheen Group participating in the round. Investors already in the round Eight Roads Ventures (the proprietary investment arm of Fidelity International Limited), Redpoint, and Shunwei Capital also participated.
Kyligence earlier received funding of $48 million, as per the Crunchbase website, which puts Kyligence’s total capitalization at $118 million.
Kyligence is based in San Jose and offers an AI-enhanced analytics system capable of providing sub-second query response times on the petabytes. Its Kyligence system is built upon Apache Kylin, a distributed analytics engine that can perform multi-dimensional analysis of enormous data sets.
The founding members of Kyligence created the Kylin technology in its initial form at eBay’s China Center of Excellence in Shanghai, China. It was a part of the Apache Software Foundation in 2022.
Kylin’s developers created Kyligence in 2016 to offer commercial versions of their open-source software with additional abilities and features. The core of the system has an OLAP (online analysis processing) function that aggregates data into multi-dimensional indexes, which significantly speeds up the process of data analysis and queries.
“Combined with a unified semantic layer, Kyligence customers can expect unimaginable performance and efficiency with the lowest cost possible,” Han said. “Our investors are aware of our commitment to this type of technology, innovation, customer-centric and cost control for cloud analytics is going forward in the right direction.”