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Ocient secures $49.4 million in funding to enhance its hyperscale data warehouse capabilities
Hyperscale data warehouse vendor Ocient has announced securing $49.4 million in new funding to support the expansion of its platform for various industry applications, particularly in artificial intelligence (AI) initiatives. With this latest investment, the total raised amount by the company reaches $119 million.
Established in 2016 by CEO Chris Gladwin following the sale of Cleversafe to IBM for $1.3 billion in 2015, Ocient’s primary objective is to develop a data analytics platform capable of managing hyperscale workloads containing trillions of data records. The platform was recently upgraded in 2023 to incorporate machine learning and geospatial functionalities.
Unlike its competitors like Snowflake, Ocient specializes in handling massive datasets, empowering organizations to analyze them swiftly for enhanced business outcomes. The fresh funding aims to bolster Ocient’s offerings with tailor-made capabilities designed for various industry sectors that demand analysis of extensive datasets.
Long-term Vision and Growth
When Ocient was first established, Gladwin charted out a 12-year plan for the company which has been regularly revised to adapt to the evolving landscape. After eight years, the fundamental goal of Ocient to facilitate the analysis of vast amounts of data by organizations remains steadfast.
Ocient’s Role in Enabling AI
Ocient plays a pivotal role in revolutionizing data for AI and machine learning applications, streamlining the process of converting raw data into formats suitable for advanced analytics. This transformation can be complex and time-consuming, especially with hyperscale datasets prevalent among Ocient’s clients in telecommunications, advertising technology, and cybersecurity sectors.
To address this challenge, Ocient equips users with tools to preprocess and transform their data effectively, making it readily deployable for AI and ML applications. The introduction of the OcientML service in 2023 added a suite of AI/ML capabilities for tasks like clustering and regression queries.
Future Growth Initiatives
Looking ahead, Ocient aims to extend its hyperscale data warehouse into multiple vertical markets beyond its current focus areas such as telecommunications, cybersecurity, advertising technology, and financial services. The company is now gearing up to venture into climate intelligence solutions, an essential element for applications in real estate, urban planning, and agriculture among others.
By democratizing access to climate intelligence tools previously requiring supercomputers, Ocient demonstrates its commitment to making advanced analytics accessible on cost-effective server clusters.
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