SANTA CLARA, Calif., March 10, 2020 /PRNewswire-PRWeb/ -- rENIAC, the drop-in data accelerator first deployed on Intel® FPGA Programmable Acceleration Cards, today announced that it has received Series A funding led by Intel Capital with participation from UMC Capital, Leawood Venture Capital, Divergent Capital, Bullpen Capital, Upheaval Investments and J-Angels.
Already in use by leading organizations including a major telco and major media studio, rENIAC has developed an ultrafast data engine to power the increasing requirements of data center and edge applications, particularly those based on artificial intelligence and machine learning. rENIAC's FPGA-backed Data Engine supercharges applications so customers can process massive data sets in real time, maintain service-level agreements (SLAs) for end users and eliminate time spent on performance tuning.
"The amount of data required for real time, customer-facing applications is impossible to operationalize when managed through software alone, and many organizations are struggling to build infrastructure that supports their AI, ML or IoT initiatives," said Prasanna Sundararajan, CEO and co-founder of rENIAC. "We are proud to provide the first drop-in data accelerator so customers using open source databases can 'right size' their existing data architecture - and avoid the pain of database migration or application refactoring while improving the end user experience."
With patented technology, rENIAC combines the benefits of software with the power of FPGAs and tiered data architecture to deliver 10x higher throughput at sub millisecond latency compared to open source databases alone. This enables customers to retrieve data more quickly in order to help prevent fraud, process payments, provide personalized recommendations and perform other revenue-increasing actions in real time while reducing total cost of ownership (TCO).
rENIAC can be deployed on premise or in the cloud and works with standard servers and FPGAs from major providers like Intel and Xilinx. With no required changes to existing data architecture or application software, rENIAC can be deployed in minutes and delivers performance increases almost immediately.
"For data services where every millisecond counts, we see increasing use of hardware accelerators," said Patrick Dorsey, vice president and general manager of Programmable Solutions Product Marketing at Intel. "The rENIAC Data Engine drop-in accelerator powered by Intel FPGAs and SSDs can deliver higher data throughput with minimal changes to the software stack, which makes it easier for customers to develop and deploy in the data center."
About rENIAC:
rENIAC's Data Engine accelerates and optimizes existing open source database implementations for data-centric applications like AI, ML, fraud prevention, payment processing, identity resolution and recommendation engines. rENIAC is flexible and deployed in minutes on prem, hybrid or in the cloud. By combining the power of FPGAs with proprietary software, rENIAC provides industry leading customers with reduced CPU usage and node count, increased performance, and consistent, predictable SLAs unattainable through a traditional database alone.
About Intel Capital:
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US$12.6 billion in more than 1,560 companies worldwide, and 677 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit https://www.intel.com/content/http://www.us/en/intel-capital/overview.html or follow @Intelcapital.
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SOURCE rENIAC, Inc.
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