Austin tech company BlazingDB has raised $2.9 million in seed round funding that the company says it will use to hire more staff and increase its sales capabilities.
California-based investment group NVIDIA GPU Ventures and Samsung NEXT, Samsung’s investment arm, provided the funding. Both have gained seats on BlazingDB’s board as a result of their investment.
"Investors like NVIDIA and Samsung NEXT grant us exposure to enterprise and technology expertise, allowing us to grow faster,” BlazingDB CEO Rodrigo Aramburu said in a written statement. “Additionally, Samsung NEXT will provide office space alongside fellow portfolio companies, where we can leverage the knowledge of other founders and a team of serial entrepreneurs."
Blazing DB uses high-speed data processing technology to store, process and secure large amounts of data. Its products can help companies make better use of the data they collect on customers, the company says.
BlazingDB , which was founded in June 2015 by Rodrigo and Felipe Aramburu, had a $118,000 seed round of funding in July of 2015, according to public records.
BlazingDB has shown that it has a fast and easy-to-use service, said Leo Chang, principal at Samsung NEXT.
"At Samsung NEXT, we understand the importance of transformative software and services,” Chang said in a written statement. “The technical ambition of BlazingDB demonstrates the magnitude and challenge of bringing value from large amounts of data, quickly."