Equalum, an israeli startup that helps companies accumulate data from a variety of enterprise sources, announced an $18 million successions B investment today.
The circular was led by Planven Investments . Other participants included United Ventures and prior investors Innovation Endeavors and GE Ventures, along with a team of unnamed individuals. Today’s haul brings the total raised to $25 million, according to data provided by the company.
Equalum CEO and founder Nir Livneh says his company essentially acts as the data pipes to feed artificial intelligence, appliance and more traditional business intelligence requirements. “Equalum is a real-moment data ingestion platform. The concept of the platform is to be able to [accumulate] data coming from a bunch of enterprise system sources and be able to centralize that data and send it in real-moment into analytic environments and feed those analytic environments,” Livneh explained.
He sees the cash from this circular as a route to continue to extend the genuine vision he had for the company. His reach in many ways is a classic successions B play. “I think the genuine thesis was validated. We have proven that we can go into luck 100 companies and get our solution adopted quickly,” he said. The next stride is to extend beyond the genuine set of several dozen huge customers and speed growth.
The company was founded in 2015 in Tel Aviv, Israel. It still maintains its R&D arm there today, with sales, marketing and management in Silicon Valley. Interestingly, its first customer was GE, which was also an early investor via GE Ventures.
Livneh says that he sees lots of room to grow in this marketplace, which he says is still dominated by legacy vendors. He believes he can swoop in and replace aging offerings by providing a more modern and streamlined reach to data amass. moment will tell if he is right.