A self-described data platform for operational Artificial Intelligence, Splice Machine has elevated a sum of USD16 million in series B funding round, for its unified Machine Learning platform. Led by GreatPoint Ventures (GPV), in participation with Accenture Ventures and individual investor and SunBridge Group CEO Allen Miner, Splice Machine’s valuation has now reached to USD58 million. The fund will be used to further modernize its product portfolio and develop its engineering and sales teams, according to the company.
As part of funding round, Splice Machine CEO Monte Zweben stated that the company will spend profoundly into its recently made partnership with Accenture to meet the augmented demand across the globe for operation AI platforms. As per a report, operational AI platform is a market which is predicted to touch USD60 billion by 2022. As a distinctive player in the space of Artificial Intelligence, Splice Machine provides a Database-as-a-Service (DBaaS) product, which unites the traits of a relational database with a data warehouse and Machine Learning. It is intended to power new, next-generation predictive applications that depend on Machine Learning and Data Analytics in order to learn from the past. The company’s DBaaS that leverages all the rage open-source Big Data technologies like Apache Hadoop, Apache Spark, and Apache HBase, enables data to be to assessed by utilizing traditional Structured Query Language commands. That defines it is easy to get to a much wider range of users.
In the funding round, Accenture Ventures’ participation is momentous because San Francisco, California-based Splice Machine recently partnered with its parent consulting firm, Accenture Plc, for bringing its platform to more customers. As part of that agreement, Accenture will become the preferred systems integrator for Splice Machine’s platform across the globe.