Oversubscribed Series A was led by U.S. Venture Partners, with participation from UPS® and Industry Leader Scott McNealy
SAN JOSE, Calif., April 30, 2013 — Skytree® The Machine Learning Company® today announced that it has closed $18 million in Series A funding with U.S. Venture Partners (USVP) as the lead investor. USVP was joined by a new investor syndicate that includes: UPS (NYSE: UPS), the world’s largest package delivery company, and Scott McNealy, co-founder and former CEO of Sun Microsystems and Chairman of Wayin.
Previous investors Javelin Venture Partners and Osage University Partners also participated in this Series. The new financing will help fuel an aggressive growth strategy to disrupt the Big Data Analytics market with enterprise-ready Machine Learning. As part of this transaction, USVP General Partner Rick Lewis has joined Skytree’s Board of Directors.
“A new era has dawned, in which enterprises are demanding the advanced, real-time business insights that only Machine Learning can provide. Skytree makes the power of Machine Learning available to all enterprises, with a striking performance advantage over their competition. Since the company’s launch in February 2012, customers have validated our view that Skytree has a huge lead in this fast-growing market. Skytree’s team, technology, and customer traction have made Skytree the company to beat in applying Machine Learning for Advanced Analytics,” said Rick Lewis, General Partner, USVP.
“The best team wins,” said Martin Hack, President, CEO and Co-Founder of Skytree. “We couldn’t be happier. The opportunity to involve Rick Lewis and benefit from USVP’s amazing background in building successful and market leading companies played a big role in our decision making process. The new financing will help us to aggressively grow our engineering and sales efforts in response to the expanding demand for our product”.
Skytree® – The Machine Learning Company® is disrupting the Advanced Analytics market with a Machine Learning platform that gives organizations the power to discover deep analytic insights, predict future trends, make recommendations and reveal untapped markets and customers. Predictive Analytics is quickly becoming a must-have technology in the age of Big Data, and Skytree is at the forefront with enterprise-grade Machine Learning. Skytree’s flagship product – Skytree Server – is the only general purpose scalable Machine Learning system on the market, built for the highest accuracy at unprecedented speed and scale.