BEIJING, July 19, 2018 /PRNewswire/ -- Kyligence, a leading data analytics company, today announced that the company has closed $15 million in Series B funding. This round was led by new investor Eight Roads Ventures (the proprietary investment arm of Fidelity International Limited) along with participation from existing investors Redpoint Ventures, Cisco, China Broadband Capital, and Shunwei Capital. With this investment, Kyligence will continue to disrupt the data analytics industry, leveraging its game-changing products and technology, and further expand its sales and marketing teams globally. Kyligence has raised $25 million in total and was founded in 2016 and has dual headquarters in Shanghai in China and Santa Clara in the USA.
"We are thrilled to be investors of Kyligence. Our investment follows our core investment thesis that the rise of big data and the increasing scale of data will require disruptive and innovative technologies to deal with emerging challenges that legacy IT cannot address," said Joe Chang, Partner at Eight Roads China, "We were impressed with what customers told us, especially with Kyligence's ability to pre-process massive datasets via cube processing and AI augmentation at sub-second latency, providing insights via commonly used tools like Tableau, Power BI, and now Microsoft Excel, which are all seamlessly integrated into Kyligence. Kyligence is really a next generation data warehouse that goes beyond OLAP, enabling customers to manage, access, and analyze huge amounts of data quickly and easily. That's a great advantage over legacy solutions."
The Game Changing Technology: AI Augmented Analytics Platform
Over the years, data warehouse and business intelligence industry has faced a huge challenge: The speed of data generation has picked up tremendously, and existing analytic tools can't efficiently handle the data volume and complexity. The current approaches require a lot of manual data preparation, and analysts with these special skills are in short supply, which slowed down delivery of analytic insights.
Kyligence introduces AI Augmented Analytics platform with its new release of Kyligence Enterprise 3.0, which uses machine-learning to analyze analyst's behavior and query history, build data models automatically, speed up query performance, and manage data across the entire analytics platform no matter whether the data resides in traditional data warehouse or a modern data lake or cloud. This automation capability releases analysts from routine tasks, so they can focus on business decisions.
"Augment Analytics is the future and will disrupt the data analytic market. Machines are good at routine tasks like recognizing patterns and doing automation, but a human's strength is to make decision with quick insight from data," said Luke Han, co-founder and CEO of Kyligence. "Kyligence learns from data and the analyst's behavior, automates analytic process, improves the analyst's productivity, and speeds up critical business decisions. We look forward to continuing to change how we live with data."
Over the past two years, Kyligence has introduced its technology to many industry leaders, including Huawei, OPPO, China Unicom, China Pacifica Insurance Group, China UnionPay, China Mobile and SAIC, and helped them migrate to modern analytics platform.
Kyligence board adviser, founder of eBay China's R&D Center, and Managing Partner of Seven Seas Partners Jack Xu said: "The founding team of Kyligence led by Luke demonstrated their international vision from the beginning. They have achieved remarkable results through strong execution during the last two years. With this new round of financing, it is believed that the team can bring the big data technology from China to the rest of the world and become a leading example of Chinese innovations going global."
About Eight Roads
Eight Roads Ventures is a global venture capital firm that backs entrepreneurs with aspirations for greatness. It has over 20 years of venture capital experience in China and has supported over 85 companies in healthcare, enterprise technology, fintech and consumer technology sectors. As the proprietary investment arm of Fidelity International Limited, Eight Roads is committed to building bold and meaningful businesses and together with its associated funds, it has invested almost USD $6bn globally into growing companies in the past 10 years.
Eight Roads Ventures has led successful investments in China, including Alibaba, China PnR, AsiaInfo, iSoftStone, Wisers, GShopper, Rulai, PingPong, Kongming, Mama+, D-Uni, Wuxi PharmaTech, Hile, Innovent, Adagene and Hua Medicine. It launched a dedicated USD $250M China Healthcare Fund in September 2017, followed by a dedicated USD $275M China Technology Fund in April this year.
About Kyligence
Kyligence Inc. is a leading data intelligence company which focuses on big data analytic technology innovation. It is founded by the team who created Apache Kylin, a leading open source OLAP for Big Data project. Kyligence offers on-premises big data analytic platform - Kyligence Enterprise and its cloud product - Kyligence Cloud.
Kyligence Enterprise is adopted by industry leaders including China Mobile, China Unicom, China UnionPay, China Pacific Insurance Group, Huawei, OPPO and SAIC.
Dual-headquartered in Shanghai in China and Santa Clara in the USA. Kyligence has strong backing from leading VCs, including Redpoint Ventures, Cisco, China Broadband Capital, Shunwei Capital and Eight Roads Capital (the proprietary investment arm of Fidelity International Limited).
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