Dice Secures $25M to Advance Its Semantic Layer Platform
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Dice, a San Francisco-based startup has raised $25 million in its newest funding spherical because it goals to boost its semantic layer platform, which allows environment friendly information querying, transformation, and visualization.
The newest funding spherical was led by Databricks Ventures and joined by all of the earlier traders together with Decibel, Bain Capital Ventures, Eniac Ventures, and 645 Ventures. Together with all rounds, Dice’s complete exterior funding has reached $48 million. The earlier funding spherical was in 2021 when the startup raised $15.5 million to carry its first business product to market.
Companies typically retailer their information throughout a number of techniques and platforms, making it difficult for information groups to assemble and analyze the information. Every system might have a special API, requiring builders to be conversant in every distinctive API to retrieve information, considerably complicating the method of knowledge integration.
Completely different techniques could retailer information in numerous methods, additional including to the complexity, and making it troublesome for analytics instruments to reliably ingest data.
Dice’s semantic layer platform addresses a few of these challenges by organizing information in a single and constant format that may be simply ingested by analytics instruments. As soon as the information has been organized, the platform makes it accessible by way of a centralized API designed to take away the necessity for builders to be taught the programming interfaces of a number of techniques.
Based in 2019 as a single place to handle information fashions, caching, and safety, Dice has grown to now energy information experiences at 20% of the Fortune 1000, with practically 5 million customers. The corporate’s common semantic layer, Dice Cloud, is vendor- and technology-agnostic, permitting it to connect with all sorts of cloud information warehouses and information consumption instruments.
“We look ahead to additional advancing Dice Cloud’s capabilities and reaching extra corporations struggling to create constant information to gasoline their BI instruments, AI packages, and information apps,” mentioned Artyom, Co-founder and CEO of Dice. “This funding will pave the way in which for us to assist extra corporations carry consistency, context, and belief to all their analytics.”
One of many key causes for the success of Dice is its means to optimize information workloads combining pre-aggregations and an in-memory cache system that helps allow up-to-date and interactive analytics with the pliability to drill down into dwell information as wanted.
In response to Keydunov, the brand new funding will go towards increasing the platform’s core capabilities: information modeling, interoperability, and efficiency.
The info modeling capabilities shall be enhanced to assist complicated metrics and introduce low-code instruments to empower extra information professionals. Whereas Dice already helps a variety of BI and information consumption instruments, Keydunov goals to make use of the funding to broaden integrations and interoperability, together with extra spreadsheet functions, BIs, and different information consumption instruments.
By way of efficiency, Keydunov goals to boost the platform’s clever catching system enabling customers to carry out interactive analytics with out the everyday efficiency trade-offs.
The in-memory cache system of the platform saves the outcomes of regularly repeated calculations, eliminating the necessity to recompute the outcomes from scratch. This will help a company handle their sources and scale back their prices.
Dice not too long ago launched an AI API to allow AI brokers. This API is constructed on RAG structure on prime of Dice’s semantic lawyer to ship to most related context information for LLMs. One of many future objectives of Dice is to broaden GenAI utility past information consumption and use it for the event and upkeep of the semantic layer itself. With the influx of contemporary capital, Dice has loads of runway to advance to the subsequent milestone.
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