May 6, 2020
GCA Altium advises Fortissimo Capital on its funding for GigaSpaces
GCA Altium has advised Fortissimo Capital, Israel’s leading private equity firm, on a round of funding of USD 12m for GigaSpaces, provider the fastest in-memory real-time analytics and data processing platform. Fortissimo Capital led the round, joined by existing investors Claridge Israel and BRM Group.
GigaSpaces provides the fastest in-memory computing platforms for real-time insight to action and extreme transactional processing. With GigaSpaces, enterprises can operationalize machine learning and transactional processing to gain real-time insights on their data and act upon them in the moment. The always-on platforms for mission-critical applications across cloud, on-premise or hybrid are leveraged by hundreds of Tier-1 and Fortune-listed organizations worldwide across financial services, retail, transportation, telecom, healthcare, and more. GigaSpaces’ offices are located in the US, Europe and Asia. GigaSpaces introduced InsightEdge, a unified analytics, ML and transactional data processing platform in 2017 to address the market needs for real-time data-driven insights.
Following record breaking results in 2019 including doubling annual recurring revenues, tripling the InsightEdge customer base and achieving record profitability, GigaSpaces continues to demonstrate growth in 2020. Increased demand for GigaSpaces’ solutions is expected during the current COVID-19 crisis, when digital service usage is skyrocketing, market trading volume continues to be volatile and real-time analytics capabilities are required. GigaSpaces is perfectly positioned to address these speed, scale, resilience and TCO challenges.
The investment underscores GigaSpaces’ impact on helping companies drive the largest enterprise digital transformation initiatives that demand real-time insights, acceleration of cloud application performance and operationalizing machine learning as well as artificial intelligence. The proceeds from the financing will be used to fuel rapid growth, scale global expansion, further develop collaboration with partners, and accelerate product innovation.
“Today, organizations must remain competitive, and require the agility to develop and deploy real-time data-driven services and applications that improve customer experience while optimizing their business operations,” said Yoav Hineman, Partner at Fortissimo Capital. “GigaSpaces’ modern data platform and impressive track-record of driving the digital transformation initiatives at tier-1 enterprises from Fortune 500 companies across financial services, insurance, health services, e-commerce and transportation, confirms GigaSpaces’ proficiency in addressing today’s and tomorrow’s customer challenges.”