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SQream Raises $7.4M in Funding Round

NEW YORK (GenomeWeb) – SQream Technologies said today that it has raised $7.4 million in private funding , which it will use to grow its business, particularly in North America.

San Francisco-based Blumberg Capital led the funding With the investment, Alon Lifshitz, a partner at Blumberg Capital, will join SQream's board of directors. To date, SQream has raised $11 million from investors.

Founded in 2010 with offices in New York and Tel Aviv, Israel, SQream develops and sells products based on its bespoke petabyte-scale database infrastructure to clients in industries such as healthcare, finance, and cybersecurity. According to the company, the graphics processing unit-based technology offers massively parallel computing power, faster performance, and scalability that allows organizations to work with increasing quantities of data.

In April, the company launched GenomeStack, its first product for the life science market, at the Bio-IT World Conference and Expo in Boston. GenomeStack leverages the company's technology to enable researchers to analyze and query large quantities of sequence data scalably and efficiently.

"Today's large-scale analytics projects are dependent on vast teams of experts and a timeline that usually runs into months or more," SQream CEO Ami Gal noted in a statement. "Using SQream, these projects can be finished quickly in a much simpler way, with great performance and the required scale ... enable[ing] organizations to more rapidly gain the knowledge needed to identify breakthroughs."

"With big data analytics becoming crucial in numerous industries, speed and scalability have become vital," Lifshitz added, "SQream uniquely addresses this need by harnessing the power of GPU technology and applying it to big data in a way that has never been seen before."