$12m Funding for Insight Platform GigaSpaces

In New York, real-time analytics specialist GigaSpaces has raised $12m in a round of investment funding, which it will use to drive company growth, scale global expansion, further develop collaboration with partners, and accelerate product innovation.

GigaSpaces' proprietary InsightEdge platform uses machine learning and transactional data processing for real-time analysis of streaming data, enriched with historical context, to help businesses enhance business operations, track regulatory compliance and improve customer experience.

New funding has been led by Fortissimo Capital, with participation from existing investors Claridge Israel and BRM Group. Adi Paz (pictured), CEO of GigaSpaces, comments: 'Data is a critical strategic asset that must be managed and leveraged correctly to provide insights, intelligence and actions for modern services and applications such as real-time fraud detection, risk analysis, instant payments, personalized offers, customer 360, dynamic pricing and more. This funding will help us drive accelerated growth to help more customers deliver on their data-driven promise'.

The firm, which has offices the US, Europe and Asia, is online at: www.gigaspaces.com .