Shanghai, China, July 5, 2018 – 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 data analytics industry leveraging its game-changing product and technology, and further expanding sales and marketing teams globally. Kyligence has raised $25 million in total. Founded in 2016 and with dual headquarters in Shanghai China and Santa Clara 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 during diligence, especially with Kyligence’s ability of pre-processing 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 seamlessly integrated to 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 superior advantage over legacy solutions.”
The Game Changing Technology: AI Augmented Big Data Platform for Analytics
Over years, the data warehouse and business intelligence industries have faced a huge challenge: The speed of data generation has picked up tremendously, and existing business intelligence and analytics tools can’t handle data volume and data complexity efficiently. The current approaches require a lot of manual work of data preparation, and analysts with these special skills are in short supply, which slowed down the speed of delivering analytic insights.
Kyligence introduces AI Augmented Analytics platform with its new release of Kyligence Enterprise 3.0: using machine-learning to analyze analyst’s behavior and query history, build data model automatically, speed up query performance and manage data across the entire analytics platform no matter whether the data resides in traditional data warehouse or modern data lake or even cloud. The automation capability has released analysts from routine tasks, so they can focus on business decisions.
“Augmented Analytics is the future and will disrupt data analytic market, machines are good at routine tasks like recognizing patterns and doing automation, but 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 analyst behavior, automates analytic process, improves analyst’s productivity and speeds up critical business decision. We look forward to continuing changing the way of how we live with data”.
Over the past two years, Kyligence has introduced its technology to many industry leaders and helped them migrating to modern analytics platform, include Huawei, OPPO, China Unicom, China Pacific Insurance Group, China UnionPay, China Mobile and SAIC.
Kyligence board adviser, founder of eBay China 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 last two years. With the 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 showcase of enabling Chinese innovations to go 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 build bold and meaningful businesses and together with its associated funds it has invested almost US$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 US$250m China Healthcare Fund in September 2017, followed by a dedicated US$275m China Technology Fund in April this year.
Kyligence Inc. is a leading data intelligence company which focuses on big data analytic technology innovation. It is founded by the original contributors to Apache Kylin, a leading open source extreme OLAP for Big Data project. Kyligence is offering 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 China and Santa Clara 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).