Ayasdi, a Palo Alto, CA-based provider of an insight discovery platform, raised $30.6m in Series B venture funding.
The round was led by Institutional Venture Partners (IVP) with participation from Citi Ventures, GE Ventures, and existing investors Khosla Ventures and FLOODGATE. In conjunction with the financing, Steve Harrick from IVP will join Ayasdi’s Board of Directors.
The company had raised $10.25m in Series A funding (read here).
Led by Gurjeet Singh, Co-Founder and CEO, Ayasdi provides an insight discovery platform for domain experts and business people to automatically find insights from complex data and operationalize them to solve problems without coding, scripting, or manually querying.
The technology is used to discover new drug therapies, uncover the causes of diseases, root out financial fraud, accelerate energy exploration, discover customer segmentation, and complement other Big Data solutions.
Customers and collaborators include General Electric, Citigroup, Merck, Anadarko, U.S. Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), the University of California San Francisco (UCSF), Mount Sinai Hospital, Texas A&M University, and Harvard Medical School.