Lucata Raises $11.9 Million in Series B Funding to Introduce Next-Generation Computing Platform
NEW YORK, July 20, 2021 (GLOBE NEWSWIRE) -- Lucata, provider of a next-generation platform for accelerating graph analytics, AI and machine learning (ML), today announced it has raised $11.9 million in Series B funding. Leading investors include Notre Dame, Middleburg Capital Development, Blu Ventures Inc., Hunt Holdings, Maulick Capital, the former CEO of SGI, and Varian Capital. Previous investors in Lucata include Samsung Ventures and Irish Angels.
The Lucata computing architecture leverages patented migrating thread technology to enable organizations to leverage massive pools of physical memory to accelerate and scale graph analytics and AI and ML model training by orders of magnitude beyond the capabilities of existing approaches. The solution enables high performance, multi-hop analytics, including exhaustive breadth-first search (BFS), on unpruned, unsharded scale 40 databases and beyond. Lucata can be used with today’s graph database software or custom-written graph solutions, enabling organizations to use their existing software to uncover much deeper connections within much larger graphs. These unique capabilities allow organizations to reimagine the capabilities of graph analytics, AI and ML and address previously intractable challenges in fraud detection, cybersecurty, blockchain, risk assessment, healthcare and many other fields.
“With the increasing need to find deeper insights in ever-growing sparse datasets, there is a compelling need for the patented technology Lucata has developed,” said Michael Mallick, Lucata chairman and CEO. “Commercializing this groundbreaking technology has required years of development effort. We are now at an inflection point when the technology evolution is aligned with market needs. Our solution offers the scale and performance necessary for businesses to achieve their goals for a range of use cases in the key verticals shaping our world today, from financial services to cybersecurity to blockchain to healthcare and more.”