Israel-Based iguazio Opens AsiaPac HQs in Singapore

iguazio Systems LTD, an Israel-based start-up founded in 2014 and a platform powering analytics and event-driven applications, announced the opening of its AsiaPac regional HQs in Singapore.

In addition, Singapore-based GrabTaxi Pte Ltd (Grab) selected iguazio in September 2017.

iguazio is growing its customers across industries including financial services, automotive, IoT and telecommunications that require real-time data processing, AI and machine learning.

In July iguazio raised $33 million in series B funding from investors including Verizon Ventures, Robert Bosch Venture Capital GmbH, the Chicago Mercantile Exchange Group, Inc., Dell Technologies Capital and venture capitals, bringing total funding to $48 million. Funding from the latest round is being used for the company’s expansion.

“We’re seeing great demand in the AsiaPac region, which will generate a third of global revenues related to data driven applications,” said iguazio CEO Asaf Somekh. “Our AsiaPac expansion better positions iguazio to work with innovative companies such as Grab which are driven by the growing up-take of digital technologies among consumers and businesses. We’ve chosen Singapore as our regional HQs due to its role as a hub for innovation, opening up a variety of opportunities including cybersecurity, IoT, smart city, financial services and telematics, making it an ideal location to accelerate iguazio’s AsiaPac operations.“

Grab is one of several customers within a variety of industries that iguazio’s platform is enabling, providing with a hybrid/multi-cloud solution through its strategic partnership with Equinix, Inc., enabling Grab to manage a continuous stream of data that facilitates real-time matching and booking, surge pricing, optimized driver decision-making and driver effectiveness.

Somekh added: “In financial services, stock exchanges are using our platform to apply AI technologies and move to real-time detection of modern and unfamiliar methods of market manipulation such as ‘spoofing,’ which was difficult under the original rules-based system. In a similar way, banks and credit card companies can benefit from accurate, real-time detection in their fraud detection platforms, reducing missed fraud as well as false alarms that block transactions unnecessarily.“

iguazio has also built turnkey solutions to better tackle growing cybersecurity threats by developing and deploying algorithmic systems to process large amounts of data in real-time from multiple locations, boosting response time and staying ahead of attackers.

According to McKinsey, companies invested$26-39 billion in AI in 2016 alone, driven by billions of gigabytes of data every day and the need to gain competitive and internal process efficiencies. International Data Corporation predicts that big data solutions, crucial to the deployment of AI and machine learning initiatives, will grow to $203 billion in 2020.

iguazio simplifies data pipeline complexities while providing a solution to accelerate the development and deployment of machine learning and AI in the enterprise, generating fresh insights in real-time. Customers use its unified data platform at the edge of the cloud, so their time sensitive applications process and analyze data close to sources such as IoT sensors and mobile devices, while connecting to any cloud vendor and leveraging the cloud’s elastic nature.

AsiaPac HQs in Singapore will support regional demand by offering training, sales and support to customers and partners.

iguazio celebrated its Singapore expansion on December 5t at the Strata Data Conference in Singapore with a data science leadership panel at the Alter Ego bar, showcasing speakers from Grab, Equinix, Bosch and NCS.

Case Studies:
Telematics
Financial Services
Cybersecurity