Ocient raises $100 million for large scale AI data platform
Ocient raised $100 million in Series C funding, bringing its total capital raised to $260 million, according to Blocks and Files. The round was co-led by BOKA Capital and OCA Ventures, with participation from existing investors.
Ocient said the investment will help it extend OcientAIQ to more customers. OcientAIQ is its database and analytics platform for AI and other large data workloads. The platform supports datasets containing trillions of rows and uses massively parallel processing across commodity hardware or public cloud infrastructure.
The company expects to triple its revenue this year and sees its opportunity with very large or specialized companies and organizations. Each deployment is tailored to the customer's environment, and Blocks and Files puts a typical one at about $2 million to $3 million. Ocient also runs a subsidiary, Ocient National Security Solutions.
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