Investment in extracting the very best value from data continues apace. Despite the impact of Coronvirus many companies are seeing plenty of investment in new software systems that can deliver all the features that online consumers, and businesses, need to get the best insurance deals.
Latest news is that Brytlyt, who claim that they’re the world’s fastest data analytics and visualisation tech provider, has raised $4 million in Series A funding from global technology investor Amadeus Capital Partners and Finch Capital.
Until now, sectors with billion-record data sets such as telcos, retail and finance, have struggled to use their data to gain insights into company performance and improve customer experience and retention. This is because legacy systems were unable to handle ad-hoc analyses of such large data in real-time.
Brytlyt uses its patent-pending software and artificial intelligence (AI), combined with GPUs, to derive insights 1,000 times faster than legacy systems. It is the only company to combine AI and open source relational database PostgreSQL for GPU-powered data analytics.
Its flagship product, the SpotLyt visualisation tool, is designed for a responsive user experience. SpotLyt can handle complex queries on billions of rows of data, delivering results in milliseconds in the form of user-friendly graphics, maps and charts. With faster, clearer visual analysis, customers can interpret their end-users’ behaviour in essential areas such as fraud prevention, attracting and retaining customers, network performance optimisation and risk management, supporting better decision-making and improved outcomes.
Brytlyt’s founder and CEO, Richard Heyns said, “We are incredibly excited to gain support from Amadeus and Finch for the next phase of our company’s growth. Analytics and data are growing exponentially and it’s clear the future of processing must lie in GPUs, with their enhanced capacity for data crunching and deep learning.”
Nick Kingsbury, Partner, Amadeus Capital Partners said, “The Brytlyt team has built very impressive high-performance database technology. Amadeus is pleased to be supporting Brytlyt as they invest in product innovation, enabling customers to extract real-time, actionable insights from massive data sets.”
Andrei Dvornic, Investment Manager, Finch Capital said, “Brytlyt is enabling companies to leverage machine learning and big data analytics at great scale in order to solve the world’s hardest problems. Richard and the team are talented tech developers and we are delighted to join them on their journey.”
Brytlyt will use the new funding to build a strong sales operation, enter new markets and grow its world-class engineering team.
Brytlyt is available for enterprises of all sizes. To schedule a demo, visit www.brytlyt.com.