Israeli startup NeuroBlade announced that the company has raised $83 million in a Series B funding round. The round was led by Corner Ventures with a contribution from Intel Capital and supported by current investors StageOne Ventures, Grove Ventures, and Marius Nacht, a co-founder of Check Point Software Technologies.
$110 million in total
With the new funding round, the total capital investment in the company is raised to $110 million, with its initial $27 million investment. The company stated that the new funding will be used to expand the company’s engineering teams in Tel Aviv and create a global sales and marketing team.
The team aims to change how large amounts of data workloads are processed. Its new data analytics architecture eliminates major data movement bottlenecks, also known as processing-in-memory which allows better and faster data processing. The company currently has over 100 people and has begun shipping its data accelerator to leading-edge worldwide. Elad Sity, CEO and co-founder of NeuroBlade said,
“We invented a new building block in computer architecture so organizations can quickly answer critical problems facing society and vastly improve business opportunities. 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.”