Swarm64 grabs about $8 mln

Berlin and Oslo-based data acceleration company Swarm64 AS has secured up to 7.1 million euros (about $8 million) in funding. The lead backers were Alliance Venture, Target Partners and Investinor. PRESS RELEASE Munich/Berlin/Oslo, September 29, 2015: Swarm64 AS (www.swarm64.com), the data acceleration company from Oslo and Berlin, has raised a total of up to €7.1 million from lead investors Alliance Venture, Target Partners ((www.targetpartners.de/en) and Investinor. The funds will be used for market entry, building out the team and to set up operations in the US market. Swarm64 has been developing a hardware and software solution that scales databases in size and speed past their current limitations. Swarm64’s Scalable Data Accelerator (SDA) and its database extensions will contribute to the professionalization of open source databases. The SDA resolves the known trade-off in databases between transaction heavy and analytics heavy workloads. It builds on the strengths of the open source community, the evolution of high-performance solid-state storage, and utilizes industry standard interfaces. There is significant business value in combining the speed and real-time aspects of transaction processing with the ability to answer complex analytics queries in seconds. Swarm64 offers these capabilities integrated in a single system, thereby eliminating the complexity of integration of multiple solutions. “As performance increases, the line between transaction heavy data processing and real time analytics starts to blur. Swarm64 is well positioned to enable a growing demand for intelligent analytics driven applications”, said John Abbott, co-founder and Distinguished Analyst at 451 Research, “Swarm64 has been able to build on recent advances in GPUs, many-core RISC processors and the open source software stack to introduce a new approach to data acceleration for lower costs, higher performance and greater efficiency.” “This investment supports us in our mission to handle complex and sizeable data affordably and with ease and take down the borders between data warehousing and live production datasets. Companies want to benefit from their data the second it becomes available, and we are providing the solution” says Dr. Karsten Rönner, CEO. Kurt Müller, partner and co-founder of Target Partners, adds “Swarm64 has a disruptive new approach to database acceleration, providing orders of magnitude faster performance to the broader commercial market. Great team, great product.” “Swarm64 has now reached the stage that fits well with our overall investment strategy to fund technology companies aiming for international growth and expansion“, says Jon Øyvind Eriksen, Investment Director at Investinor. Bente Loe, partner at Alliance Venture, “we recognized Swarm64’s potential early and have been supporting the company since the seed-stage. Now we are excited to back the company during its growth phase”. Swarm64 was founded by Eivind Liland, one of the developers of the ARM Mali mobile GPU, Thomas Richter and Alfonso Martínez in early 2013 and operates in Oslo and Berlin. In 2012 and 2013 the founding team was supported by Humboldt Innovation of the Humboldt University Berlin. About Swarm64: Swarm64 is an international company located in Berlin and Oslo. We are developing a hardware and software solution that scales databases in size and speed past their current limitations. Swarm64’s Scalable Data Accelerator (SDA) and its database extensions build on the strengths of open source database systems and enhance them with a massively parallel processor architecture. For more details: www.swarm64.com About Target Partners: With €300 million under management, Target Partners is one of the leading early-stage venture capital firms in Germany. Target Partners invests in new startup and early-stage companies, and supports them with venture capital during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States. For more details: www.targetpartners.de, follow us on Twitter: twitter.com/targetpartners or Facebook: facebook.com/targetpartners.

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Swarm64 grabs about $8 mln