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The U.S.-based Splice Machine is a data platform that provides offline, and batch analysis, and powers smart applications for operational workflows. The leading data platform announces its $16 million funding led by Great Point Ventures. Accenture Venture was also a part of this round thereby strengthening the partnership amid Accenture and Splice Machine to drive mission-critical business outcomes for global clients with operational AI solutions; even the CEO of the SunBridge group was also a part of this funding. All of this lead to Splice Machine’s total funding to $58 million. The funding helped Splice Machine to triple its revenues and customer counts since its last financing.
The new funds will help Splice Machine to innovate their data platform further, expand its global reach, and grow its world-class distributed engineering and customer success teams across the US and other nations as well. The company plans to invest in its new partnership with Accenture to meet the increased global demand for operational AI platform and large-scale digital transformation.
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Splice Machine integrates operational workloads, analytics, and ML in one operational AI platform, powering smart applications by leveraging real-time data at scale to deliver business experiences that drive revenue, increase internal efficiencies, and satisfy customer expectations.
The emerging ML market is expected to grow to USD 8.07 billion by 2023 from $1.58 billion in 2017, the data warehouse market is expected to increase by more than 40 percent, from $14 billion in 2017 to $20 billion in 2020, as per a report by IDC, and the operational database market is expected to reach USD 60 billion by 2022. The opportunity for operational AI platforms to assist in solving the scalability pain of legacy systems that merely store transactions over "signals."
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