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Dice, a San Francisco-based startup has raised $25 million in its newest funding spherical because it goals to reinforce its semantic layer platform, which allows environment friendly knowledge querying, transformation, and visualization.
The most recent funding spherical was led by Databricks Ventures and joined by all of the earlier buyers together with Decibel, Bain Capital Ventures, Eniac Ventures, and 645 Ventures. Together with all rounds, Dice’s whole exterior funding has reached $48 million. The earlier funding spherical was in 2021 when the startup raised $15.5 million to convey its first business product to market.
Companies usually retailer their knowledge throughout a number of techniques and platforms, making it difficult for knowledge groups to collect and analyze the info. Every system may have a unique API, requiring builders to be conversant in every distinctive API to retrieve knowledge, considerably complicating the method of information integration.
Completely different techniques could retailer knowledge in numerous methods, additional including to the complexity, and making it troublesome for analytics instruments to reliably ingest info.
Dice’s semantic layer platform addresses a few of these challenges by organizing knowledge in a single and constant format that may be simply ingested by analytics instruments. As soon as the info has been organized, the platform makes it accessible by way of a centralized API designed to take away the necessity for builders to be taught the programming interfaces of a number of techniques.
Based in 2019 as a single place to handle knowledge fashions, caching, and safety, Dice has grown to now energy knowledge experiences at 20% of the Fortune 1000, with practically 5 million customers. The corporate’s common semantic layer, Dice Cloud, is vendor- and technology-agnostic, permitting it to hook up with all kinds of cloud knowledge warehouses and knowledge consumption instruments.
“We stay up for additional advancing Dice Cloud’s capabilities and reaching extra corporations struggling to create constant knowledge to gasoline their BI instruments, AI packages, and knowledge apps,” mentioned Artyom, Co-founder and CEO of Dice. “This funding will pave the best way for us to assist extra corporations convey consistency, context, and belief to all their analytics.”
One of many key causes for the success of Dice is its skill to optimize knowledge workloads combining pre-aggregations and an in-memory cache system that helps allow up-to-date and interactive analytics with the pliability to drill down into reside knowledge as wanted.
In keeping with Keydunov, the brand new funding will go towards increasing the platform’s core capabilities: knowledge modeling, interoperability, and efficiency.
The info modeling capabilities will probably be enhanced to help advanced metrics and introduce low-code instruments to empower extra knowledge professionals. Whereas Dice already helps a variety of BI and knowledge consumption instruments, Keydunov goals to make use of the funding to develop integrations and interoperability, together with extra spreadsheet purposes, BIs, and different knowledge consumption instruments.
When it comes to efficiency, Keydunov goals to reinforce the platform’s clever catching system enabling customers to carry out interactive analytics with out the standard efficiency trade-offs.
The in-memory cache system of the platform saves the outcomes of often repeated calculations, eliminating the necessity to recompute the outcomes from scratch. This may also help a corporation handle their assets and scale back their prices.
Dice not too long ago launched an AI API to allow AI brokers. This API is constructed on RAG structure on prime of Dice’s semantic lawyer to ship to most related context knowledge for LLMs. One of many future objectives of Dice is to develop GenAI utility past knowledge consumption and use it for the event and upkeep of the semantic layer itself. With the influx of recent capital, Dice has loads of runway to advance to the subsequent milestone.
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