Data and analytics company Kyligence has closed its Series B round on $15m, to help with talent acquisition and platform development.
The round was led by Eight Roads Ventures, which marks its first investment in the company. Other contributions came from existing backers including Redpoint Ventures, Cisco, China Broadband Capital and Shunwei Capital.
Kyligence, which has offices in Shanghai and Santa Clara, is a data intelligence platform which supports securities, insurance and cellphone manufacturing. The company uses machine learning technology to analyse analyst behaviours and query history, automatically build data models, accelerate query performance and manage data across the platform.
Two solutions are available, enterprise and cloud. Through its enterprise solution, clients can access a big data analytics platform while its cloud service helps to move analytics processes to the cloud, increasing performance and scalability.
Some of the companies to utilise Kyligence’s technology include Huawei, OPPO, China Unicom, China Pacifica Insurance Group, China UnionPay, China Mobile and SAIC.
This equity line will enable Kyligence to further support its data and analytics technology, as well as growing its sales and marketing teams globally.
Since the company was founded in 2016, it has raised a total of $26m in investment rounds.
Kyligence co-founder and CEO Luke Han said, “Augment Analytics is the future and will disrupt data analytic market, machines are good at routine tasks like recognizing patterns and doing automation, but human’s strength is to make decision with quick insight from data.
“Kyligence learns from data and analyst’s behavior, automates analytic process, improves analyst’s productivity and speeds up critical business decision. We look forward to continuing changing the way of how we live with data.â€
Earlier in the week, Eight Roads reportedly led the £14m Series B round of spare change investment platform Moneybox.
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