Ayasdi Raises $30.6 Million in Series B Funding From Institutional Venture Partners (IVP), GE Ventures, and Citi Ventures

Ayasdi Raises $30.6 Million in Series B Funding From Institutional Venture 
Partners (IVP), GE Ventures, and Citi Ventures 
Pioneers New Machine Learning Approach to Automate and Operationalize
Insight Discovery From Complex Data to Power the Brilliant Enterprise 
PALO ALTO, CA -- (Marketwired) -- 07/16/13 --  Ayasdi
(www.ayasdi.com) has raised $30.6 million in Series B venture
funding, led by IVP with participation from Citi Ventures, GE
Ventures, and existing investors Khosla Ventures and FLOODGATE. In
conjunction with the financing, Steve Harrick from IVP will join
Ayasdi's Board of Directors. 
Six months after the company's initial launch, Ayasdi's customers and
collaborators include General Electric, Citigroup, Merck, Anadarko,
U.S. Food and Drug Administration (FDA), Centers for Disease Control
and Prevention (CDC), the University of California San Francisco
(UCSF), Mount Sinai Hospital, Texas A&M University, and Harvard
Medical School.  
"The Big Data market is expected to grow exponentially over the next
few years, and the new frontier will be pioneered by the technologies
that leverage the strengths of both humans and machines," said Steve
Harrick, General Partner at IVP. "In a remarkably short time, Ayasdi
has not only developed a breakthrough technology, but also gained an
impressive foothold in the market. I am looking forward to working
with their leadership team to build upon that momentum and pursue the
company's next stage of growth." 
Transforming How the World Uses Data
 Before Ayasdi, organizations
typically extract value from data by building a Big Data
infrastructure and employing large teams of highly trained Data
Scientists who spend months, and sometimes years, asking questions of
data to find breakthrough insights. The probability of discovering
these insights is low because there are too many questions to ask and
not enough data scientists to ask them. Once found, deploying
solutions to help enterprises solve critical problems can further
lengthen the process. 
Ayasdi's Insight Discovery platform is designed for domain experts
and business people to automatically find insights from complex data
and operationalize them to help enterprises solve difficult and
expensive problems. Ayasdi's unique approach combines advanced
machine learning techniques with a branch of mathematics called
Topological Data Analysis (TDA) to discover insights without coding,
scripting, or manually querying. Ayasdi's technology also utilizes an
ensemble of best-of-breed algorithms, automatically maps entire
datasets (both structured and unstructured), and quickly provides the
most relevant and statistically valid insights.  
"We're excited by Ayasdi's unique capability to let users find
insights automatically from large, complex data sets," said Ramneek
Gupta, Managing Director, Citi Ventures. "Their ability to abstract
away complexity, thereby making powerful machine learning tools
accessible to ordinary business users, is particularly promising.
We're looking forward to leveraging Ayasdi's technology on several
use cases within Citi's Center of Excellence for Data Intelligence." 
Advancing Machine Learning and TDA to Enable the "Brilliant
Enterprise"
 "This is a critical time in the evolution of how
organizations utilize data -- a time when some will take a great leap
forward. Ayasdi's vision is to transform how the world uses data to
solve problems and to enable every organization to become a Brilliant
Enterprise," said Gurjeet Singh, Co-Founder and CEO at Ayasdi.
"Brilliant Enterprises will effectively find insights and
operationalize them to create billions of dollars in growth, bring
down costs, and solve many of our world's most complex and expensive
problems." 
With this latest investment, Ayasdi will accelerate the development
of machine learning systems and TDA-based approaches to help
organizations achieve brilliant outcomes. Ayasdi will do so through:  


 
--  Continued automation of Ayasdi's machine learning techniques to
    discover insights from complex data in a matter of seconds;
--  Enhanced operational workflow capabilities for integrating Ayasdi into
    core enterprise IT environments and real-time business operations;
--  Access to preloaded public datasets providing immediate insights for
    enterprises to pair with their proprietary datasets; and
--  Doubling the size of the company within the next 12 months.

  
New Customers and Partners Align to Ayasdi's Vision for a Brilliant
Enterprise 
 Ayasdi's customers and collaborators use its technology
to discover new drug therapies, uncover the causes of diseases, root
out financial fraud, accelerate energy exploration, discover customer
segmentation, and much more. Additionally, Ayasdi's platform is
engineered to complement other Big Data solutions. 
General Electric: "Through powerful analytic models developed over a
decade at Stanford, Ayasdi lets you find the needle in a haystack you
didn't know was there, quickly. For GE and our customers with vast
amounts of industrial data, Ayasdi's technology will be a powerful
tool for predictive analytic models that can drive billions of
productivity and efficiency savings," said Jonathan Ballon, Chief
Strategy Officer, GE. 
Cloudera: "Cloudera pioneered the business case for Apache Hadoop and
as the market leader with tens of thousands of nodes under management
and growing, we are excited to partner with Ayasdi. Our market
leading big data platform, together with Ayasdi's application and
machine-learning algorithms, enables our joint customers to generate
full value and insight from their complex data at lightning speed,"
said Tim Stevens, Vice President, Business Development, Cloudera.  
About Institutional Venture Partners (IVP)
 With $4 billion of
committed capital, Institutional Venture Partners (IVP) is one of the
premier later-stage venture capital and growth equity firms in the
United States. Founded in 1980, IVP has invested in over 300
companies, 94 of which have gone public. IVP is one of the
top-performing firms in the industry and has a 32-year IRR of 43.2%.
IVP specializes in venture growth investments, industry rollups,
founder liquidity transactions, and select public market investments.
Since its inception, IVP investments include such notable companies
as ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Concur
Technologies (CNQR), Dropbox, Fleetmatics (FLTX), HomeAway (AWAY),
Juniper Networks (JNPR), Kayak (KYAK), LegalZoom, LifeLock (LOCK),
Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate
(STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter, and Zynga
(ZNGA). For more information, visit http://ivp.com or follow IVP on
Twitter: @ivp. 
About GE Ventures
 GE Ventures is committed to identifying, scaling
and accelerating ideas that will make the world work better. Focused
on the areas of software and analytics, advanced manufacturing,
energy and healthcare, GE Ventures helps entrepreneurs and start-ups
succeed by providing access to GE's technical expertise, capital and
opportunities for commercialization through GE's global network of
business, customers and partners. GE Ventures is headquartered in
Menlo Park, CA. For more information, please visit
http://www.ge.com/company/ge-ventures. 
About Citi Ventures
 Headquartered in Palo Alto, with offices in New
York and Shanghai, Citi Ventures is a unit of the global financial
services company Citigroup. The Citi Ventures team partners with Citi
businesses internally and with leading companies externally to
identify, invest in, develop, and commercialize the highest new
growth opportunities around the world that directly support Citi's
global business strategy. For more information visit
ventures.citi.com. 
About Ayasdi
 Ayasdi is transforming how the world uses data to solve
complex problems. Founded in 2008 after a decade of research at
Stanford, DARPA, and NSF, Ayasdi is pioneering a new approach for
enterprises to automatically discover and operationalize insights
from their data. Ayasdi's Insight Discovery platform uses Topological
Data Analysis (TDA) combined with an ensemble of machine learning
techniques to enable data scientists, domain experts, and business
people to achieve value from their data without the need to write
code, queries, or ask questions. Funded by Khosla Ventures,
Institutional Venture Partners, GE Ventures, Citi Ventures, and
FLOODGATE, Ayasdi's customers include General Electric, Citigroup,
Merck, Anadarko, U.S. Food and Drug Administration (FDA), Centers for
Disease Control and Prevention (CDC), the University of California
San Francisco (UCSF), and Mount Sinai Hospital. To learn more, visit
www.ayasdi.com or follow us @ayasdi. 
PR Contact
Michael Lindenberger 
Reidy Communications 
michael@reidycommunications.com 
415-531-1449 
 
 
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