Kyligence,
originator of Apache Kylin and the leader in intelligent data analytics, announced that the company has closed $70 million in Series D funding to
continue powering its global expansion and rapid customer adoption. This
funding round attracted global investment management organizations, including
the round's lead investor, SPDB International. New investors Alpha Square
Group, CICC, Gopher Asset Management, Shanghai Growth Capital, PUXIN Capital,
and Jumbo Sheen Group also participated in the round. The round included
follow-on investments from existing investors Eight Roads Ventures (the
proprietary investment arm of Fidelity International Limited), Redpoint and
Shunwei Capital.
Kyligence was founded in 2016 by the
creators of Apache Kylin, a leading open-source OLAP big
data project. The Apache Kylin project was started at eBay's China Center of
Excellence (CCOE) in Shanghai, China and contributed to Apache Software
Foundation (ASF) in 2015. It quickly graduated to the Top Level Project of ASF
later that year. The Kyligence platform simplifies the deployment of massive
interactive analytics in the cloud by providing unified data semantics and
automated data processing and aggregation across a wide range of use cases with
its patented AI-Augmented operations.
With this investment, Kyligence will
keep fueling its rapid growth by further investment in research and development
of its products to support innovative cloud-native and machine learning
advances. The next-generation enterprise-grade data platform provided by
Kyligence, will assist enterprises to realize future-oriented digital
transformation, thereby improving the capability and efficiency of data
management and analytics.
"Today's cloud data warehouses and
data lake analytics are struggling to deliver cost effective analytics as data
and user volumes explode," said Luke Han, co-founder and CEO of Kyligence.
"Kyligence can vastly improve the economics of these platforms via our
cloud-native architecture and AI-augmented operations. Coupled with a Unified
Semantic Layer, Kyligence customers can expect unprecedented performance and
concurrency at the least possible cost. Our investors understand that our
commitment to this kind of innovation, customer focus, and cost control for cloud
analytics has us moving in the right direction."
Hongrui Jia is the CEO of SPDB
International, the offshore investment bank wholly owned by Shanghai Pudong
Development Bank Co., Ltd. and the lead investor in this round. He said
"Kyligence, one of SPD Bank's business partners, is a leading data intelligence
company in the field of big data. As the creator of Apache Kylin, Kyligence has
had a profound global influence and continues to strengthen the platform with a
cloud-native design and AI-augmented operations. With the explosive growth of
data and its broad applications, we believe that SPDB International, together
with Kyligence, can accelerate SPD Bank's digital service capabilities."
According to Gartner, by the end of 2024, 75 percent of
enterprises will shift from experimenting to operationalizing AI, driving a 5X
increase in streaming data and analytics infrastructures in the process.
Trusted by Global Fortune 500 companies, Kyligence's AI-Augmented engine
intelligently identifies, manages, and optimizes a company's most valuable
data, enabling analysts and data engineers to build out new analytics services
- on-premises or in the cloud.
One Kyligence customer UBS, a
multinational investment bank and financial services company, uses Kyligence to
analyze worldwide transactions to keep on top of its risk profile. Kyligence
helps UBS process close to a billion new records every day, updating their
model every couple of hours to ensure the transactions are not adding risk.