Leader in Machine Intelligence software surges with more than 400% growth in customer bookings in 2014
Palo Alto, CA March 25, 2015 Ayasdi, the leader in Machine Intelligence software, announced more than 400 percent bookings growth for fiscal year ended Jan 30th, 2015, and a new $55M round of Series C funding, led by Kleiner Perkins Caufield & Byers (KPCB), and joined by existing investors, Institutional Venture Partners (IVP), Khosla Ventures, FLOODGATE, Citi Ventures, and new investors, Centerview Capital Technology and Draper Nexus.
Ayasdi's Machine Intelligence software solves the most complex and impactful analytical challenges for Fortune 500 companies around the globe. In the previous 12 months, Ayasdi's customer roster grew substantially to include Citigroup, Credit Suisse, Siemens, Lockheed Martin, Mercy health system, Mount Sinai School of Medicine, UCSF Medical Center, and other leaders in financial services, technology, healthcare, government, and life sciences. In addition, Ayasdi announced partnerships with Cloudera, Hortonworks, Intel, and Teradata.
By combining many machine learning algorithms together with topological mathematics and artificial intelligence, Ayasdi developed an entirely new approach that simplifies complex data analysis for large organizations, said Ted Schlein, General Partner at KPCB. Machine Intelligence is one of the breakthrough innovations that will drive the next information and productivity wave in the coming decade.
Ayasdi's impressive growth over the past two years, signals the emergence of Machine Intelligence as a compelling technology for tackling complex datasets, said Steve Harrick, General Partner at Institutional Venture Partners (IVP). Ayasdi's progress in helping customers to derive powerful insights from their data assets demonstrates the extraordinary value of this new category of ground-breaking software.
Mercy, the fifth largest Catholic health care system in the U.S., and a Most Wired' health care organization, is a recognized leader in applying innovative technologies to produce break-through patient outcomes and superior ROI, said Vance Moore, Senior Vice President Operations at Mercy. Using our vast repositories of clinical and patient data, we see Ayasdi's capabilities as a critical element to reduce costly clinical variations and improve our operational best practices, leading us to harvest millions of dollars in unnecessary expenses, all while improving the lives and welfare of our patients.
Ayasdi's software represents a new breed of analytics for delivering accelerated insights from large and complex data sets, said Michael May, Head of the Technology Field Business Analytics & Monitoring, Siemens Research and Technology Center. We're excited to apply this technology to our most challenging analytic problems, that will produce impactful business results and improve our bottom line.
Customers Discover Breakthrough Insights That Deliver Significant ROI
Ayasdi currently does business with three of the five largest financial institutions in the world. The company's financial services customers use Ayasdi to enhance their consumer credit decisions, accelerate the development and accuracy of risk and regulatory models, optimize services for private banking clients, and improve fraud detection models. In each case, financial institutions are finding critical insights and patterns that return hundreds of millions of dollars in ROI.
Citis unmatched multinational business footprint creates a complex data analytics landscape, said Deborah Hopkins, Chief Innovation Officer of Citi and CEO of Citi Ventures. Ayasdi's big data technology simplifies and accelerates the analysis of thousands of discrete variables and delivers insights that enable Citi to tailor services to specific client needs, operate more efficiently and mitigate risk.
Credit Suisse intends to lead our industry in understanding complex datasets. We evaluate employing the world's most advanced analytic technologies, to gain the greatest possible advantage for our clients, said Marco Abele, Head of Digital Private Banking at Credit Suisse. At today's accelerated pace of business, rapidly uncovering subtle signals across our massive data sources, would help us to deliver superior results for our clients.
Ayasdi expanded its healthcare portfolio with client wins in both the provider and payer space. Healthcare service providers rely upon Ayasdi to analyze extensive clinical records to identify best practices that will improve both patient and financial outcomes. Ayasdi can analyze a broad set of data types (e.g. lab tests, pharmaceuticals, patient records and billing information) to find important patterns that reduce costs while delivering a higher quality of care. Additionally, healthcare payers are leveraging their data to improve their revenue cycle though better identification of fraud, waste and abuse within their claims processing operations.
Our mission is to detect and help diagnose disabling spinal cord and brain injuries, that would not necessarily show up on a standard MRI, said Adam Ferguson, Assistant Professor and Wings for Life and GE-NFL Head-Health challenge Principal Investigator, Brain and Spinal Injury Center at the University of California San Francisco Medical Center. By analyzing brain image scans and clinical information, Ayasdi's intelligent analytics software helps us quickly find critical patterns in our data that would be extremely difficult to identify with conventional statistical tools.
Government contractors improve their programs' performance by leveraging Ayasdi's analytic software to examine textual, schedule and financial data.
Ayasdi's Topological Data Analysis (TDA) is complementing our data analytics solutions by uncovering insight
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Leader in Machine Intelligence software surges with more than 400% growth in customer bookings in 2014
