With $55 million in kitty Ayasdi heading to make companies smarter.
Date: Wednesday , May 13, 2015
With the most brilliant mathematicians heading the organization, Ayasdi was able to raise
another $55 million in a fund rising round led by Kleiner Perkins Caufield & Byers.
Ayasdi, with its long list of Fortune 1000 companies as customers including Citigroup, Credit
Suisse, Siemens, Lockheed Martin, and several others in financial service, technology, health
care, government and life sciences, the organization is headed for a very bright financial year as
400% growth in bookings has been noted for the fiscal year.
Started in 2008 by three mathematicians, including CEO and co - founder Gurjeet Singh
and world famous mathematician Gunnar Carlsson, President and co - founder, who specialize in
topography which is study of shapes, Ayasdi mainly focuses on extracting insights from
business\'s data rather than storing it.
The company specializes in application of Topological data analysis, including statically machine
learning and geometric algorithms and applies the extracted data to better research work
bringing out better results.
Ayasdi has branches into several industries what it calls \"Sandwiches\" apps on top of Ayasdi
platform for use of customers in those customers. A health care sandwich is the best as it has
its own interface and understands how to talk to data from electronic medical data.
Lockheed, a government contractor, uses Ayasdi software to monitor the status of their
projects, to make sure they are on track.
The funds raised will be invested in sales and marketing and to develop the software. \"Machine
intelligence for the enterprise is still in its infancy\" Dr. Gurjeet Singh said. \"There is still lot more
Kleiner Perkins Partner Ted Schlein, who became the board observer, said the firm invested in
Ayasdi because it has shown traits commercially of growing into important data to big data,
making companies smarter.
After this fund raising initiative, Ayasdi\'s fund is now close to $100 million. Dr. Gurjeet Singh
said he hopes that the current round will be the company\'s last one. He also expects more
growth in the company, raising its worth to $1 billion or more by the next year.