Fastdata.io Secures $5 Million In Seed Funding From CrossCut, Pelion Venture Partners And NVIDIA

Fastdata.io Launches First GPU-Native Stream Processing Engine Leveraging NVIDIA GPUs to Provide the Fastest Real-time Stream Processing of Data in Motion

SANTA MONICA, Calif., March 27, 2018 — (PRNewswire) —   Fastdata.io, a real-time stream processing company, today announced it has raised a $5M seed round co-led by CrossCut and Pelion Venture Partners with participation from existing investor NVIDIA. Fastdata.io will use the financing to accelerate the adoption of its high performance computing software, FDIO Engine™, the first GPU-native software, which exploits the massively parallel processing capability of NVIDIA graphics processing units (GPUs) to provide real-time stream processing of big data in motion.

Fastdata.io

FDIO Engine is the world's fastest and most efficient stream processing software and was designed to meet the critical and growing demand for efficient, real-time big data processing. By processing complex algorithms against terabytes of live streaming data, FDIO Engine accelerates stream processing up to 1,000 times faster than any CPU-based software. It also reduces total real-time data processing costs by more than seventy percent and power and space requirements by more than ninety-eight percent in the data center whether running in the public cloud or on private servers. This new level of efficiency will save billions of dollars in power costs while tremendously reducing greenhouse emissions.

Fastdata.io will launch and demo its FDIO Engine at the NVIDIA GPU Technology Conference on March 26-29 in San Jose.

"FDIO Engine offers unmatched efficiency and cost savings, allowing new applications to truly exploit data processing at the speed of thought for the first time," said Alen Capalik, CEO and founder of fastdata.io. "This paradigm shift, from traditional batch processing where you must store data before processing to true real-time processing where you can process data before deciding to store it, will open exciting new possibilities for application development in numerous industries."

FDIO Engine is the first software to natively run on the GPU Data Frame (GDF), which uses the Apache Arrow columnar format to represent data on the GPU. GDF is the data format supported by the GPU Open Analytics Initiative (GoAi).

"NVIDIA GPU Ventures were early investors into fastdata.io as we quickly recognized the importance of bringing real-time stream processing capability into the GPU-accelerated analytics ecosystem," said Jeff Herbst, vice president of business development at NVIDIA. "We are huge supporters of both GDF and the fastdata.io business plan, and see them essentially 'paving the freeway' for faster, highly efficient data communication between GPU-based software solutions."

Ben Lambert of Pelion Venture Partners and Brian Garrett of CrossCut will join Fastdata.io's Board of Directors, along with cybersecurity expert and retired four-star Admiral William Fallon. Admiral Fallon is a former head of both U.S. Pacific Command and U.S. Central Command. He has led U.S. and Allied forces in eight separate commands at the highest levels of the United States government during his 41 years of leadership and service.

"We love seeing frontier tech like fastdata.io getting started right here in Los Angeles, as it is a testament to the growing technology diversity of the Southern California tech ecosystem," said Brian Garrett of CrossCut. "Fastdata.io is poised to transform the big data and streaming analytics space, utilizing GPUs to offer a level of performance and efficiency never seen before in data processing."

"Fastdata.io will create endless innovative opportunities for businesses in industries that need real-time stream processing like finance, security, ad-tech, telecom, cloud, AI, Internet of Things, autonomous vehicles, and robotics," said Ben Lambert of Pelion Venture Partners. "Alen and the fastdata.io team have a deep technology background and an impressive history of creating new categories in the cybersecurity space. We're excited to work with them and see the many ways that companies will now leverage real-time data to drive new technologies forward."

About fastdata.io
Fastdata.io has developed the world's fastest and most efficient stream processing software engine. Leveraging general-purpose computing on graphics processing units, fastdata.io has developed its FDIO Engine™, a high performance computing software engine, to exploit the massively parallel processing capability of NVIDIA's GPU platform. The FDIO Engine scales stream processing up to three orders of magnitude faster, while simultaneously cutting power and space requirements in the data center by more than 98%. Founded in 2016, fastdata.io is led by CEO and founder Alen Capalik. Fastdata.io is headquartered in Santa Monica, California with offices in Seattle, Washington. For more information, visit http://fastdata.io/

 

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SOURCE Fastdata.io

Contact:
Company Name: Fastdata.io, CrossCut, Pelion Venture Partners, NVIDIA
fastdata.io, Tracy Akselrud
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Web: https://www.fastdata.io




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