Cloud-based data analytics service startup, MapD has closed a $10M Series A funding round led by Vanedge Capital with participation from Verizon Ventures and Nvidia, joining earlier investor Alphabet GV (formerly Google Ventures). The company also released a new database and analytics platform that claims to perform much faster than competing solutions, due to its use of GPU processing to accelerate queries.
The company leverages GPUs (graphics processing units) to run queries using them in a highly parallel manner and claims that it can even outperform in-memory databases.
MapD wrote in a blog post that "Verizon Ventures invested after hearing about how we were enabling interactive exploration of a multi-billion record dataset belonging to one of the company’s network infrastructure groups and realizing the potential value of the software across the organization. And Rich Miner and Adam Ghobarah at GV have been amazing partners from the beginning when they saw our first demo showcasing interactive exploration of a billion tweets and were sold on the promise of GPU-powered data analytics."
