Former winner SQream raises $39.4 million

We’re happy to announce that data analytics firm SQream, winner of the Tech Trailblazers Regional Award back in 2014, has managed to raise $39.4 million in Series B+ funding. The firm says that the money will be used to recruit top talent to accelerate advancements in the company’s technology and cloud endeavours, and also to improve their customer delivery platforms to better serve worldwide demand.

Whereas a lot of firms have found the COVID-19 restricting their plans, SQream reports that its growth is accelerating, which is what drove them to look for further investment. Clearly there has been demand for SQream’s data acceleration platform which promises the “fastest available” analysis of hundreds of terabytes to petabytes of raw data from Hadoop or other data warehouses and databases. The payoff for having SQream DB in as part of a firm’s data pipeline is to gain better access to large quantities of data and enable new business insights based on it.

The funding round was led by Mangrove Capital Partners and Schusterman Family Investments, who joined existing investors, including Hanaco Venture Capital, Sistema VC, World Trade Center Ventures, Blumberg Capital, Silvertech Ventures, and the Alibaba Group. The firm’s board of directors also gained two new members, Charlie Federman from Silvertech Ventures and Roy Saar from Mangrove Capital Partners.

The new board member from new investor Mangrove Capital Partners, Roy Saar, explains the potential that drove the firm to invest in SQream, “Given the growth of data, which has been on a rocket-ship trajectory to zettabyte levels due to rapid digitalization, we are just scraping the surface of how companies will be generating value from their data. We share the conviction in SQream’s important role in driving business performance and providing a competitive edge.”

Ami Gal, CEO and co-founder of SQream, sees the investment as a big seal of approval for the work they are doing. “The commitment we have received from both new and existing investors in this round, and from our customers, even during such a challenging period, is a strong validation of our vision and market potential,” he says. “From the very beginning, our vision has been to enable enterprises to analyze more of their data much faster, providing better, more accurate and comprehensive business insights. We look forward to working together to accelerate our expansion.”

At Tech Trailblazers we’re always overjoyed to see one of our alumni succeeding and we hope that this latest investment will see SQream move on to further success in the future.