This seed funding will enable them to accelerate their data crunching capabilities so that it can query up to 1 petabyte of data in under a second by 2019. “ To get an idea of how much data that is, the human brain is believed to be capable of storing around 2.5 petabytes of memories in total. So QuasarDB’s goal is to be able to query almost half of the memories stored in the average person’s brain in a single second.”
We are even more proud of this achievement since CEO and founder Edouard Alligand met Reza Malekzadeh, General Partner at Partech Ventures during Impact. “Now that Big Data is past the hype curve, real solutions are emerging,” said Reza Malekzadeh. “QuasarDB is solving today’s pressing problems in market finance and we believe their technology and expertise will also be key for the Industrial IoT” according to Siliconangle.
Please find below the full press release.
QuasarDB, a developer of technologies to handle massive amounts of data in real time, primarily for financial markets, announced today the closing of $2.5 million in seed round funding.
Partech ventures led the investment round with participation from Orolia and other private investors. This investment brings QuasarDB’s total funding to $3.5 million, following an initial investment led by NewFund Capital, and will help the company increase its sales and marketing efforts in the USA, one of the fastest growing markets in the finance industry.
How Big Data Has Changed the Financial Sector
“The amount of data to store and analyze in the financial world is overwhelming. To face this challenge, there is a growing demand for solutions delivering better performance, scalability and convenience. Because QuasarDB’s database technology is optimized both for mass and speed, our financial customers can increase the depth of their analyses – thus their accuracies – without compromising on speed.” said Quasardb CEO and founder Edouard Alligand.
“I’m really happy to have Reza Malekzadeh from Partech Ventures joining us, as we will greatly benefit from his expertise in product marketing. In addition to the launch of ‘Prisma Compliance’ a QuasarDB-powered product offered by Orolia to address the MiFID II data reporting regulation, I believe we are in a great position to penetrate the US market.”
This seed round builds on an exceptional year for QuasarDB, with major Wall Street firms beta-testing the QuasarDB time series database and giving extremely positive feedback about its performance.
Quantitative analysts said that QuasarDB uniquely solves a lot of difficult performance and scalability problems, enabling them to focus on market analysis and strategies.
“Now that Big Data is past the hype curve, real solutions are emerging,” said Reza Malekzadeh, General Partner at Partech Ventures. “QuasarDB is solving today’s pressing problems in market finance and we believe their technology and expertise will also be key for the Industrial IoT”.
“Maintaining Orolia’s world leadership in Resilient Positioning, Navigation and Timing requires to identify the most advanced technologies early on and integrate them into innovative products,” said Jean-Yves Courtois, CEO of Orolia. “We believe QuasarDB has the potential to make breakthrough advances in all applications based on massive amounts of time-stamped and/or geo-localized data and Orolia will support the company through its global sales network and broad customer base”.
Born in market finance, QuasarDB is an advanced database that solves large numerical data problems as fast as possible. QuasarDB makes choosing between speed and scale a thing of the past. QuasarDB delivers the best database technology to its customers, based on its unique IP backed by 10 years of R&D. For more information visit www.quasardb.net and follow @quasardb
About Partech Ventures
Founded in 1982 in Silicon Valley, Partech Ventures is a global investment firm with a team spread across offices in Paris, Berlin and San Francisco. Companies backed by Partech Ventures have completed 21 initial public offerings and more than 50 major M&A transactions with leading international companies. Since 2012, the team has built a pioneering business development platform fostering synergies and business relationships between entrepreneurs and strategic partners. For more information visit www.partechventures.com and follow @partechventures.
Orolia is the world leader in Resilient PNT solutions that improve the reliability, performance and safety of customers’ critical, remote or high-risk operations. Through its leading Kannad, McMurdo, Sarbe, Spectracom, and Spectratime brands, Orolia has commercial presence in more than 100 countries worldwide. With expertise in government, maritime, aviation and enterprise applications, Orolia provides fail-safe GPS/GNSS and PNT products and solutions for its customers’ most mission-numericalcritical needs. For more information visit www.orolia.com