Ayasdi, a Stanford-based big data firm whose products help develop anti-cancer treatments and plan energy exploration, just received a $30.6 million funding round led by IVP, with Citi Ventures, GE Ventures, Khosla Ventures, and Floodgate participating. Ayasdi’s core product, the Insight Delivery platform, rapidly maps large data sets and visualizes them to allow researchers to find connections between different pieces of data. With the extra funding round, the company plans to hire additional employees, add additional workflow capabilities, and automate additional machine learning techniques.
Fast Company wrote about Ayasdi’s launch in January; since then, their flagship insight platform has been marketed for purposes including building new cancer drugs, finding likely sites for energy exploration, and discovering and parsing ties in terrorist networks.
The company, which still maintains close ties to Stanford University’s mathematics department, sells its wares to clients that include Merck, the Food and Drug Administration, the Centers for Disease Control, CitiGroup, major energy companies, defense contractors, and American intelligence agencies.
In a statement, Citi Ventures’ Ramneek Gupta said “We’re excited by Ayasdi’s unique capability to let users find insights
automatically from large, complex data sets.Their ability to abstract away complexity, thereby making powerful machine learning tools accessible to ordinary business users, is particularly promising.”