Earlier in the week SpaceCurve, a third-generation big data platform that delivers real-time immersive intelligence and drives innovation in location-based announced it had raised $10M in its Series B round of financing.
The round was led by Triage Ventures with participation from existing SpaceCurve investors Reed Elsevier Ventures and Divergent Ventures. The funds will be used to expand sales and marketing in support of the first release of the SpaceCurve platform scheduled for Q3.
“In the rapidly changing and highly competitive big data market, SpaceCurve has shown an amazing ability to excite customers who are pushing the current limits of big data technologies and looking to build new applications and services to disrupt markets,” said Doug Derwin, managing director of Triage Ventures. “We are happy to lead this new round to help SpaceCurve rapidly meet new customer demands that its next-generation platform promises.”
SpaceCurve is changing the value and economics for many areas of the big data market by solving the biggest challenge facing big data today: how to process and analyze large volumes, wide varieties and high velocities of data in real time. The next decade will bring epic growth in mobility and location-based services, and in the geospatial and sensor data volumes that will fuel the demand for immediate insights from multidimensional data. SpaceCurve’s platform was specifically designed to meet the future market requirements for round-trip real-time capture and analysis of multiple layers of machine-scale streaming data that traditional big data offerings cannot handle.
“We appreciate the support of our investors at this critical time in the company’s and the market’s history,” said John Slitz, CEO of SpaceCurve. “This round of financing allows us to remain at the forefront of the big data market and effectively provide immediately actionable intelligence that will be a requirement for companies in the future.”