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“Above the Trend Line” – Your Industry Rumor Central for 5/21/2020

Above the Trend Line: your industry rumor central is a recurring feature of insideBIGDATA. In this column, we present a variety of short time-critical news items grouped by category such as M&A activity, people movements, funding news, industry partnerships, customer wins, rumors and general scuttlebutt floating around the big data, data science and machine learning industries including behind-the-scenes anecdotes and curious buzz. Our intent is to provide you a one-stop source of late-breaking news to help you keep abreast of this fast-paced ecosystem. We’re working hard on your behalf with our extensive vendor network to give you all the latest happenings. Heard of something yourself? Tell us! Just e-mail me at: daniel@insidebigdata.com. Be sure to Tweet Above the Trend Line articles using the hashtag: #abovethetrendline.

We want to make sure all our readers are aware of another regular column designed to help you keep pace with our rapidly accelerating industry — “Latest News.” This column provides insights into new products and services coming from the big data ecosystem. So if you want to know what’s happening be sure to look for this column (see our May 4 edition). We hope this news coverage will help you strategize your technology decisions. For now though, let’s take a look at some new funding news … Singapore-based deep-tech company Dathena, a leader in AI-powered data protection and privacy management for global enterprises, announced that they have closed a $12 million Series A round led by Jungle Ventures, with the participation of Caphorn and SEEDS Capital, an investment arm of Enterprise Singapore which is the government agency championing enterprise development. Existing investors Cerracap Ventures and MS&AD Ventures also participated in the round … MemSQL, the No-Limits Database for operational analytics and cloud-native applications, has signed a debt facility that provides up to $50 million of new capital. Hercules Capital (NYSE: HTGC), the largest non-bank venture debt provider with more than $2.4 billion in total assets, served as underwriter for the financing … Symend, a leading customer engagement platform designed to better engage, treat, and retain financially at-risk customers, announced a $52 million USD raise led by global technology venture firm Inovia Capital, with participation from a consortium of investors including Ignition Partners, Impression Ventures, BDC Capital’s Women in Technology Fund, Mistral Venture Partners, and angel investor Markus Frind … Can artificial intelligence help businesses keep their contractual promises and reduce invoice leakage in today’s subscription economy? Customers of SirionLabs, the AI-powered contract lifecycle management (CLM) platform, have done so. Having saved more than $2.2B for their customers, the company announced it has raised a $44M Series C Round led by Tiger Global and Avatar Growth Capital. The round brings SirionLabs’ total capital raised to $66M to date, with earlier rounds led by Sequoia Capital India.

We also learned of a number of new partnerships, alignments and collaborations … DarwinAI, the explainable AI company located in Waterloo, Canada, announced a strategic collaboration with global aerospace leader Lockheed Martin that seeks to improve Lockheed Martin’s customers’ understanding of AI solutions. Explainable AI (XAI) or “explainability” attempts to illuminate how neural networks – complex constructions that mimic the human brain – reach their decisions.  The lack of understanding around AI’s decision-making process has hampered the widespread adoption of AI. In response to this industry-wide impasse, DarwinAI created an explainability platform for deep learning development powered by its proprietary technology, GenSynth Explain. In addition to improving neural network efficiencies, the platform can dramatically reduce the time it takes to produce robust and accurate models through the insights it generates … 6sense, a leading account engagement company, announced that it has partnered with Bombora, a leading intent data company, to enable mutual customers to leverage Bombora’s Company Surge® intent within the 6sense Account Engagement Platform. Bombora’s Company Surge data can be combined with 6sense’s intent, predictive, engagement, and other crucial account data to create hyper-targeted audiences and deliver engaging experiences … Alation Inc., a leader in enterprise data catalogs, announced a partnership with BigID, a leading modern data intelligence platform for privacy, protection and perspective, to enable enterprises to consistently protect sensitive data and personal information, and ensure compliance with emerging data privacy regulations including the EU General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). The partnership delivers a unified interface integrated with a unified data inventory and personal information mapping to govern data usage at the point of consumption … OpenLegacy, a pioneer in digital-driven integration for legacy and core systems, has announced a partnership with GigaSpaces, the provider of InsightEdge, the fastest in-memory real-time analytics processing platform … Maven Wave, an Atos company, announced that it is the first Google Cloud partner to launch a partnership with Snowflake cloud data platform. This collaboration will further empower Maven Wave to provide customers with a proven, fast journey to the cloud for data analytics, enabling seamless, secure data integration and analytics. Snowflake announced general availability on Google Cloud in February, bringing together its cloud-native platform with Google Cloud’s robust capabilities in AI, machine learning, and analytics … Foxconn, a global leader in smart manufacturing, is joining Socionext, a major provider of advanced SoC solutions for video and imaging systems, and leading artificial intelligence (AI) chipmaker Hailo to launch the next-generation AI processing solution for video analytics at the edge. Foxconn has combined its high-density, fan-less, and highly efficient edge computing solution, “BOXiedge™”, with Socionext’s high-efficiency parallel processor “SynQuacer™” SC2A11, and the Hailo-8™ deep learning processor. The new combination provides market-leading energy efficiency for standalone AI inference nodes, benefiting applications including smart cities, smart medical, smart retail, and industrial IoT … Rockset, the company that lets developers create fast, powerful data APIs, announced a partnership with MongoDB and released deep product integration with its global cloud database, MongoDB Atlas, that makes it faster and easier for developers to combine data across MongoDB and other data sources using SQL. Built by the team behind RocksDB and the Facebook online data platform, Rockset is ideal for powering services like recommendation engines, personalization, gaming leaderboards, IoT apps, GPS-enabled tracking and vision-AI based automation. MongoDB is used by millions of developers worldwide to power mobile, web, gaming, IoT and other applications. By integrating Rockset with MongoDB, developers can build real-time services that combine data across MongoDB and other data sets by creating APIs for low latency search, aggregations and joins … Yellowbrick Data, a leading data warehouse for hybrid cloud, and Next Pathway Inc., the Automated Cloud Migration company, announced a partnership to accelerate the migration of complex on-prem workloads to the Yellowbrick Data hybrid cloud data warehouse. The partnership will provide Yellowbrick Data customers with a seamless solution to automate what is typically the most time-consuming and costly step in a cloud migration effort – legacy code conversion. Next Pathway’s SHIFT™ Migration Suite helps automate the end-to-end tasks in a migration lifecycle. This includes the capability to automate the conversion of database objects such as SQL and complex types including Stored Procedures, orchestration logic, ETL pipelines, Dynamic SQL, and others from legacy technologies such as Teradata and Netezza … HVR, a leading independent provider of real-time cloud data replication technology, announced a strategic partnership with Talend, a global leader in data integration and data integrity, allowing customers to integrate their data for the most complete view of business operations and analytics.

In people movement news, we heard … Aiven, a startup that combines the best open source technologies with cloud infrastructure, announced that Emma Paajanen and Jani Asikanius joined the company as the new VP of marketing and VP of sales, EMEA, respectively. Both executives bring a wealth of experience to the team and will look to continue the company’s growth initiatives … Sigma Computing, an innovator in cloud-native analytics and business intelligence (A&BI), has appointed Mike Palmer as CEO. Co-founder Rob Woollen was previously CEO and will now take over product strategy and innovation as chief technology officer (CTO). Co-founder Jason Frantz will become chief architect after serving as the company’s CTO. These changes are effective immediately … Teradata (NYSE: TDC) announced that its Board of Directors has appointed Steve McMillan President and Chief Executive Officer, and a member of the Board of Directors, effective June 8, 2020. Mr. McMillan was previously at F5 Networks, Inc. as Executive Vice President of Global Services. He succeeds interim President and Chief Executive Officer, Victor Lund. Mr. Lund will step down from the Company’s Board of Directors, effective upon the appointment of Mr. McMillan as CEO on June 8, 2020.

In M&A news we heard … Panzura, creator of the fast cloud file system, announced it has been acquired by venture capital firm Profile Capital Management LLC, an investment management firm renowned for strategic growth investments in the IT sector. Terms of the deal were not disclosed. Coming off a record Q2 ending in April of over 50% revenue growth, Panzura will leverage significant financial resources and extensive business networks provided by Profile, to accelerate market and international expansion, as enterprises demand flexibility and security for their remote workforces. Panzura has been capitalizing on data management trends for the fast evolving ‘new normal’ of working from home. The global enterprise data management market is expected to grow from $77.9BN this year to $122.9BN by 2025, at a Compound Annual Growth Rate (CAGR) of 9.5%.

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