LONDON, May 20, 2020 /PRNewswire/ — Brytlyt, provider of the world’s fastest data analytics and visualisation technology, has raised $4 million in Series A funding from global technology investor Amadeus Capital Partners and Finch Capital.
Until now, sectors with billion-record data sets such as telcos, retail and finance, have struggled to use their data to gain insights into company performance and improve customer experience and retention. This is because legacy systems were unable to handle ad-hoc analyses of such large data in real-time.
Brytlyt uses its patent-pending software and artificial intelligence (AI), combined with GPUs, to derive insights 1,000 times faster than legacy systems. It is the only company to combine AI and open source relational database PostgreSQL for GPU-powered data analytics.
Its flagship product, the SpotLyt visualisation tool, is designed for a responsive user experience. SpotLyt can handle complex queries on billions of rows of data, delivering results in milliseconds in the form of user-friendly graphics, maps and charts. With faster, clearer visual analysis, customers can interpret their end-users’ behaviour in essential areas such as fraud prevention, attracting and retaining customers, network performance optimisation and risk management, supporting better decision-making and improved outcomes.
Brytlyt’s founder and CEO, Richard Heyns said, “We are incredibly excited to gain support from Amadeus and Finch for the next phase of our company’s growth. Analytics and data are growing exponentially and it’s clear the future of processing must lie in GPUs, with their enhanced capacity for data crunching and deep learning.”
Brytlyt works across any verticals with large data sets, including:
- Telcos – Many of the world’s largest telco operators use Brytlyt to make fast and accurate decisions, optimise network performance, reduce customer churn and maximise subscriber monetisation.
- Finance – Brytlyt enables financial institutions to reduce fraud, manage risk and improve real-time market trading awareness.
- Healthcare – By working with Brytlyt, hospitals and research facilities reduce data processing time from days to minutes for a range of applications, from DNA sequencing to mitigating the effects of COVID-19, by observing user behaviour, tracking social distancing, managing the logistics of Personal Protective Equipment and contact tracing.
- Retail – Both “brick and mortar” and online retailers can work with Brytlyt to attract and retain customers with targeted pricing, promotions and optimised product assortment.
- Logistics – Data analysis is key for supply chain management and logistics across industries to optimise last mile scheduling and manage inventory.
Nick Kingsbury, Partner, Amadeus Capital Partners said, “The Brytlyt team has built very impressive high-performance database technology. Amadeus is pleased to be supporting Brytlyt as they invest in product innovation, enabling customers to extract real-time, actionable insights from massive data sets.”
Andrei Dvornic, Investment Manager, Finch Capital said, “Brytlyt is enabling companies to leverage machine learning and big data analytics at great scale in order to solve the world’s hardest problems. Richard and the team are talented tech developers and we are delighted to join them on their journey.”
Brytlyt will use the new funding to build a strong sales operation, enter new markets and grow its world-class engineering team.
Brytlyt is available for enterprises of all sizes. To schedule a demo, visit www.brytlyt.com.
Notes to editors:
- Only AI GPU analytics program built on PostgreSQL.
- Alternative quote from Richard: We are bridging the gap between the old SQL world and the new and exciting world of AI, enabling companies to bring their infrastructure up-to-date and extract value from their data in real-time.”
- Images found here
Brytlyt, founded in London in 2013, helps the world’s largest telcos, retailers and financial institutions to make sense of their data through analysis and visualisation technology. Brytlyt is the only GPU database working with patent-pending software built on PostgreSQL for high performance, high speed, high quality visual analytics. For more information, please visit www.brytlyt.com or contact Brytlyt at firstname.lastname@example.org.
About Amadeus Capital Partners
Amadeus Capital Partners is a global technology investor. Since 1997, the firm has raised over $1bn in venture and growth capital and supported 160 companies. Our experienced team of investors and entrepreneurs shares a passion for the transformative power of technology.
Pioneering businesses we’ve backed include cyber security vendor ForeScout (NASDAQ: FSCT); Graphcore, innovators in intelligent microprocessors; IVF genetic testing company Igenomix; IndiaMART, the B2B online marketplace (NSE: INDIAMART); payments platform iyzico; and speech recognition company VocalIQ (acquired by Apple). Find us at https://amadeuscapital.com and @AmadeusCapital.
About Finch Capital
Finch Capital is a thematic investor and has built a track record of investing since 2014 in European and South East Asian Financial Technology, AI and IoT companies including Grab, Twisto, Brickblock, Trussle, and Hiber. Finch Capital is a team of 12 investment professionals with wide entrepreneurial (e.g. Adyen and Arista), investing (e.g. Accel), and industry backgrounds (e.g. Facebook and McKinsey) based out of its offices in Amsterdam, London, and Jakarta. For more information see www.finchcapital.com
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