CHICAGO, June 15, 2020 (GLOBE NEWSWIRE) -- Ocient, a Data Analytics Solutions (DAS) company that is building ultra-large-scale relational database software and software-as-a-service for the world’s largest datasets, announced today that it has raised an additional $15 million on top of the $10 million it announced in March 2018. This investment, led by Chicago-based OCA Ventures and with participation by In-Q-Tel, Inc., will support continued research and development, recruiting, business development and sales efforts.
Co-founded in March 2016 by Chris Gladwin, Joseph Jablonski and George Kondiles, Ocient will transform how organizations analyze immense amounts of data with unmatched price/performance levels.
The Ocient DAS can hold quadrillions of rows of data, ingress billions of rows per second, and filter and compute trillions of rows per second. Deployed on industry-standard hardware or the public cloud, it is built for organizations where NoSQL databases and Hadoop fall short of their needs for:
By fundamentally rethinking database architecture, the Ocient DAS has achieved performance levels that are orders of magnitude better than competitive products and runs on modern commodity hardware utilizing massively parallel processing on large core-count systems:
“The exponential growth of data will make today’s big data solutions woefully inadequate for organizations’ analytics needs in the not-too-distant future,” said Gladwin. “Ocient is purpose-built for gaining insights in interactive time from the data tsunami every enterprise is tackling not just now, but for many years into the future.”
OCA Ventures, which led the round, was the first institutional investor in Gladwin’s prior startup, Cleversafe, a leading developer of object storage software and systems. After achieving successful market adoption, Cleversafe would eventually sell to IBM for over $1.3 billion in 2015.
“As an early stage venture investor, OCA Ventures is committed to backing brilliant innovators as they commercialize upon dramatic marketplace opportunities. Entrepreneurs are central to OCA Ventures’ investment philosophy, and we are thrilled to partner again with Chris, Joe and George,” said OCA Ventures’ Founding Managing Partner, Jim Dugan, who joined Ocient’s Board of Directors. “Chris’ experience helping organizations cost-effectively and reliably store ultra large data provides Ocient a unique vantage point for understanding how organizations are struggling to actively analyze massive data sets.”
Also participating in the funding round is In-Q-Tel, the strategic investor to the U.S. Intelligence and National Security community.
Steve Bowsher, Managing General Partner and Executive Vice President at In-Q-Tel, said, “In-Q-Tel is looking forward to partnering with Ocient in order to support the needs of our Intelligence and National Security partners.”
Team and Advisory Board Additions
So far in 2020, Ocient has hired 15 employees and nine interns, bringing its employee count to over 50, with plans to more than double its headcount over the next year. The company also announced additions to its management team and advisory board.
Management Team
Advisory Board
Rebecca, Wil and Craig are joined by an existing group of Sales & Marketing and Technology Advisory Board members that include:
About Ocient
Ocient is building database and analytics software and services to enable rapid analysis of the world’s largest datasets. To learn more about Ocient, please visit http://www.ocient.com/.
Media Contact: Josh Inglis, josh@propllr.com, 312.504.7677
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/234c7f2e-26e2-483e-af2f-af09c41ca95b