SQream Secures $45M Funding to Enhance Its GPU-Powered Big Data Analytics Platform

In 2010, Israeli data analytics startup SQream recognized the transformative potential of GPUs for processing and querying large datasets. The founders anticipated that as data volumes continued to swell, the demand for efficient data solutions would rise. Their foresight has indeed paid off, especially with the surge of AI and its massive data processing needs that rely heavily on GPU technology. Today, SQream proudly announces a $45 million funding round to fuel its growth trajectory.

The Series C funding is led by World Trade Ventures, with participation from key investors including Schusterman Investments, the George Kaiser Foundation (Atento), Icon Continuity Fund, Blumberg Capital, and Freddy & Helen Holdings. While the exact valuation remains undisclosed—CEO Ami Gal remarked, “We don’t like to play show and tell”—he expressed great satisfaction with the figure. Sources indicate that the valuation may hover around $500 million, considering SQream has raised approximately $163 million to date.

Targeting the enterprise sector, SQream serves diverse industries such as semiconductors, manufacturing, telecommunications, financial services, and healthcare. Its notable clientele features mobile carrier Orange, Samsung, LG, Alibaba, and PubMatic. The newfound funding will primarily focus on expanding SQream's presence in North America.

SQream's name originates from its initial mission: co-founders Gal, Razi Shoshani (CTO), and Kostya Varakin (who has since left the company) aimed to enhance SQL database analytics—a substantial market on its own at that time. Their enthusiasm for gaming led them to explore GPU-based parallel processing from Nvidia, which they believed could significantly speed up and optimize data queries for business intelligence, machine learning, and other applications.

Initially, SQream pitched its capabilities as able to “analyze up to 20 times more data, up to 100 times faster, at as little as 10% of the cost.” Ironically, such performance claims have since become the standard expectation for major players in big data analytics. SQream has since surpassed those numbers, asserting it can “expand data capacity while reducing ingestion times by 90%, preparation times by 90%, footprint by 90%, and costs by 80%.”

"We believed that GPU architecture could foster a broad ecosystem of applications for general purposes, as well as for machine learning and AI, which were already gaining traction. It seems Nvidia successfully capitalized on that vision!” Gal chuckled. “We’re thrilled that what started as a niche has evolved into the backbone of all processing.”

SQream's early focus on SQL garnered interest from strategic partners, including Alibaba. Over the years, while GPU and SQL technologies remain central to its operations, the company has expanded its scope. In 2021, SQream acquired Panoply to integrate hundreds more data sources into its offerings. Part of the funding will also support R&D initiatives to explore cutting-edge processors and potentially lead to innovative future services.

This exploration may even extend to quantum processors, pending their practical realization, as well as optical processors and other advancements. While Gal was somewhat reticent to disclose specific future projects, he noted, “Several emerging architectures are poised to disrupt the market in coming years. Nvidia will undoubtedly face significant competition moving forward. New computing technologies will emerge, presenting unique advantages.”

As AI continues to dominate discussions across industries, Gal acknowledges the likelihood of fluctuations in business related to Generative AI. However, the increasing need for robust data solutions remains unyielding, which is what attracts investors to SQream.

“SQream empowers enterprises to be data-driven and to provide insights precisely where they are needed. We are excited to support SQream's mission to transform the big data and AI landscape, particularly in North America, where demand continues to soar,” stated Abraham Schwartz, partner at World Trade Ventures.