Ayasdi reports 400% bookings growth in 2014
Ayasdi, a Machine Intelligence software provider, announced more than 400% bookings growth for fiscal year ended January 30, 2015, and a new $55 million (€50.6 million) round of Series C funding, led by Kleiner Perkins Caufield & Byers (KPCB), and joined by existing investors, Institutional Venture Partners (IVP), Khosla Ventures, Floodgate, Citi Ventures, and new investors, Centerview Capital Technology and Draper Nexus.
“By combining many machine learning algorithms together with topological mathematics and artificial intelligence, Ayasdi developed an entirely new approach that simplifies complex data analysis for large organizations,” said Ted Schlein, General Partner at KPCB. “Machine Intelligence is one of the breakthrough innovations that will drive the next information and productivity wave in the coming decade.”
In the previous 12 months, Ayasdi’s customer roster grew substantially to include Citigroup, Credit Suisse, Siemens, Lockheed Martin, Mercy health system, Mount Sinai School of Medicine, UCSF Medical Center, and other leaders in financial services, technology, healthcare, government and life sciences. In addition, Ayasdi announced partnerships with Cloudera, Hortonworks, Intel and Teradata.
Ayasdi currently does business with three of the five largest financial institutions in the world. The company’s financial services customers use Ayasdi to enhance their consumer credit decisions, accelerate the development and accuracy of risk and regulatory models, optimize services for private banking clients, and improve fraud detection models. In each case, financial institutions are finding critical insights and patterns that return hundreds of millions of dollars in ROI.
“Citi’s unmatched multinational business footprint creates a complex data analytics landscape,” said Deborah Hopkins, Chief Innovation Officer of Citi and CEO of Citi Ventures. “Ayasdi’s big data technology simplifies and accelerates the analysis of thousands of discrete variables and delivers insights that enable Citi to tailor services to specific client needs, operate more efficiently and mitigate risk.”
“Credit Suisse intends to lead our industry in understanding complex datasets. We evaluate employing the world’s most advanced analytic technologies, to gain the greatest possible advantage for our clients,” said Marco Abele, Head of Digital Private Banking at Credit Suisse. “At today’s accelerated pace of business, rapidly uncovering subtle signals across our massive data sources, would help us to deliver superior results for our clients.”