Aug
25
2021
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Bodo.ai secures $14M, aims to make Python better at handling large-scale data

Bodo.ai, a parallel compute platform for data workloads, is developing a compiler to make Python portable and efficient across multiple hardware platforms. It announced Wednesday a $14 million Series A funding round led by Dell Technologies Capital.

Python is one of the top programming languages used among artificial intelligence and machine learning developers and data scientists, but as Behzad Nasre, co-founder and CEO of Bodo.ai, points out, it is challenging to use when handling large-scale data.

Bodo.ai, headquartered in San Francisco, was founded in 2019 by Nasre and Ehsan Totoni, CTO, to make Python higher performing and production ready. Nasre, who had a long career at Intel before starting Bodo, met Totoni and learned about the project that he was working on to democratize machine learning and enable parallel learning for everyone. Parallelization is the only way to extend Moore’s Law, Nasre told TechCrunch.

Bodo does this via a compiler technology that automates the parallelization so that data and ML developers don’t have to use new libraries, APIs or rewrite Python into other programming languages or graphics processing unit code to achieve scalability. Its technology is being used to make data analytics tools in real time and is being used across industries like financial, telecommunications, retail and manufacturing.

“For the AI revolution to happen, developers have to be able to write code in simple Python, and that high-performance capability will open new doors,” Totoni said. “Right now, they rely on specialists to rewrite them, and that is not efficient.”

Joining Dell in the round were Uncorrelated Ventures, Fusion Fund and Candou Ventures. Including the new funding, Bodo has raised $14 million in total. The company went after Series A dollars after its product had matured and there was good traction with customers, prompting Bodo to want to scale quicker, Nasre said.

Nasre feels Dell Technologies Capital was “uniquely positioned to help us in terms of reserves and the role they play in the enterprise at large, which is to have the most effective salesforce in enterprise.”

Though he was already familiar with Nasre, Daniel Docter, managing director at Dell Technologies, heard about Bodo from a data scientist friend who told Docter that Bodo’s preliminary results “were amazing.”

Much of Dell’s investments are in the early-stage and in deep tech founders that understand the problem. Docter puts Totoni and Nasre in that category.

“Ehsan fits this perfectly, he has super deep technology knowledge and went out specifically to solve the problem,” he added. “Behzad, being from Intel, saw and lived with the problem, especially seeing Hadoop fail and Spark take its place.”

Meanwhile, with the new funding, Nasre intends to triple the size of the team and invest in R&D to build and scale the company. It will also be developing a marketing and sales team.

The company is now shifting from financing to customer- and revenue-focused as it aims to drive up adoption by the Python community.

“Our technology can translate simple code into the fast code that the experts will try,” Totoni said. “I joined Intel Labs to work on the problem, and we think we have the first solution that will democratize machine learning for developers and data scientists. Now, they have to hand over Python code to specialists who rewrite it for tools. Bodo is a new type of compiler technology that democratizes AI.”

 

May
27
2020
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RudderStack raises $5M seed round for its open-source Segment competitor

RudderStack, a startup that offers an open-source alternative to customer data management platforms like Segment, today announced that it has raised a $5 million seed round led by S28 Capital. Salil Deshpande of Uncorrelated Ventures and Mesosphere/D2iQ co-founder Florian Leibert (through 468 Capital) also participated in this round.

In addition, the company also today announced that it has acquired Blendo, an integration platform that helps businesses transform and move data from their data sources to databases.

Like its larger competitors, RudderStack helps businesses consolidate all of their customer data, which is now typically generated and managed in multiple places — and then extract value from this more holistic view. The company was founded by Soumyadeb Mitra, who has a Ph.D. in database systems and worked on similar problems previously when he was at 8×8 after his previous startup, MairinaIQ, was acquired by that company.

Mitra argues that RudderStack is different from its competitors thanks to its focus on developers, its privacy and security options and its focus on being a data warehouse first, without creating yet another data silo.

“Our competitors provide tools for analytics, audience segmentation, etc. on top of the data they keep,” he said. “That works well if you are a small startup, but larger enterprises have a ton of other data sources — at 8×8 we had our own internal billing system, for example — and you want to combine this internal data with the event stream data — that you collect via RudderStack or competitors — to create a 360-degree view of the customer and act on that. This becomes very difficult with the SaaS-hosted data model of our competitors — you won’t be sending all your internal data to these cloud vendors.”

Part of its appeal, of course, is the open-source nature of RudderStack, whose GitHub repository now has more than 1,700 stars for the main RudderStack server. Mitra credits getting on the front page of HackerNews for its first sale. On that day, it received over 500 GitHub stars, a few thousand clones and a lot of signups for its hosted app. “One of those signups turned out to be our first paid customer. They were already a competitor’s customer, but it wasn’t scaling up so were looking to build something in-house. That’s when they found us and started working with us,” he said.

Because it is open source, companies can run RudderStack anyway they want, but like most similar open-source companies, RudderStack offers multiple hosting options itself, too, that include cloud hosting, starting at $2,000 per month, with unlimited sources and destination.

Current users include IFTTT, Mattermost, MarineTraffic, Torpedo and Wynn Las Vegas.

As for the Blendo acquisition, it’s worth noting that the company only raised a small amount of money in its seed round. The two companies did not disclose the price of the acquisition.

“With Blendo, I had the opportunity to be part of a great team that executed on the vision of turning any company into a data-driven organization,” said Blendo founder Kostas Pardalis, who has joined RudderStack as head of Growth. “We’ve combined the talented Blendo and RudderStack teams together with the technology that both companies have created, at a time when the customer data market is ripe for the next wave of innovation. I’m excited to help drive RudderStack forward.”

Mitra tells me that RudderStack acquired Blendo instead of building its own version of this technology because “it is not a trivial technology to build — cloud sources are really complicated and have weird schemas and API challenges and it would have taken us a lot of time to figure it out. There are independent large companies doing the ETL piece.”

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