Equalum, providers of the first Enterprise Data Beaming platform, today announced the closing of its $5M Series A financing led by Eric Schmidt's Innovation Endeavors and GE Ventures, as well as a group of private investors led by Dr. Giora Yaron.
Equalum’s Data Beaming technology, which transforms how enterprises manage the flow of data across systems, has gained rapid adoption in the manufacturing and Industrial Internet of Things (IIoT) sector and early traction in other verticals including finance and media.
To propel growth in today's hyper-competitive world, business leaders need the ability to rapidly analyze and adapt to new information. Decision-making based on real-time insights is powering breakthrough results across domains, from the optimization of industrial processes to the dynamic allocation of financial investments and the streamlined delivery of healthcare.
But true visibility into business operations often requires leaders to unify fragmented data from across silos. ETL processes, which enterprises have long relied on to manage data flows, are straining under a constantly-growing volume and velocity of data. And in-house implementations of powerful open-source frameworks are complex, costly, and prone to failure. Information technology leaders need a new approach.
Equalum's Data Beaming platform seamlessly teleports data across the enterprise, connecting any source to any target application or system – where organizations can unlock insights in real-time. Data Beaming replaces unscalable batch processes or unwieldy open-source implementations, providing a robust end-to-end solution with easy setup and a zero-coding approach. In a recent deployment at a Fortune 100 enterprise in the industrial space, for example, Equalum replaced a popular legacy ETL product – driving a performance increase of 15x.
"Business leaders know that their data is a source of competitive advantage," said Nir Livneh, Equalum CEO and Founder. "But critical insights are buried across systems, and data pipelines are often fragile and unscalable. Equalum's Data Beaming platform is built to transform how data sources are connected in the enterprise. By beaming data from operational systems to analytics environments, Equalum empowers leaders to surface and take action on insights in real-time."
From powering just-in-time supply chain optimization for manufacturers to real-time transactional analytics for financial institutions, Equalum’s Data Beaming technology has demonstrated value to enterprise leaders across industries.
“At GE Ventures, we are active investors in companies that are strategic to our digital industrial transformation,” said Mike Dolbec, Managing Director. “Equalum’s unique Data Beaming platform streams data in real-time from multiple enterprise systems of record and engagement into analytics environments. In support of GE Digital’s strategic objectives, Equalum shares similar goals as GE, helping to enable improved outcomes from industrial assets as well as decreased costs and improved efficiencies.
”Big Data and Artificial Intelligence are today’s fastest-growing technology trends,” said Giora Yaron, Equalum Founding Investor, and Chairman. “Equalum’s platform is uniquely capable of enabling AI for any organization. By seamlessly delivering vast amounts of data to analytics environments in real-time, Data Beaming can power the discovery of hidden patterns across data sets – revolutionizing everything from real-time fraud detection to the optimization of health care outcomes and the delivery of personalized customer experiences at scale.”
Equalum is the first Data Beaming platform, capable of instantly teleporting operational data from any source to real-time analytics environments. Built for scalability and ease of use, Equalum harnesses the power of Spark in an enterprise-grade environment – helping organizations accelerate past traditional ETL or open-source implementations. Headquartered in Silicon Valley and Tel Aviv, Equalum is proud to work with some of the world’s top industrial, financial, and media enterprises.
About Innovation Endeavors
Innovation Endeavors is an early- and expansion-stage venture capital firm partnering with startups that apply cutting edge technology to transform large industries. The firm runs a dedicated global team that builds industry networks to create value for its portfolio companies. Innovation Endeavors has offices in Herzliya, Israel; New York City; and Silicon Valley.
About GE Ventures
GE Ventures identifies, scales and accelerates ideas that will help make the world work better. Focused on the areas of software, advanced manufacturing, energy and health care, GE Ventures combines equity investing, new business creation, licensing and technology transfer to deliver an innovation platform designed to drive growth for partners and GE. For more information, visit http://www.geventures.com, or follow on Twitter (@GE_Ventures) and LinkedIn.