NEW YORK (GenomeWeb News) – Big data analysis firm Ayasdi said this week it raised $30.6 million in a Series B funding round.

Institutional Venture Partners led the round. Additional participants included Citi Ventures, GE Ventures, and existing investors Khosla Ventures and Floodgate.

In conjunction with the investment, IVP's Steve Harrick is joining Ayasdi's board.

The funding will go toward acceleration of the Palo Alto, Calif.-based company's development of machine learning systems and topological data analysis –based approaches.

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