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RAW Labs Raises $5.5M to Help Enterprises Unlock the Value of Their Data

 4 years ago
source link: https://venturebeat.com/2021/02/11/raw-labs-raises-5-5m-to-help-enterprises-unlock-the-value-of-their-data/
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The company adds Lars Farnstrom as its new CEO

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LAUSANNE, Switzerland–(BUSINESS WIRE)–February 11, 2021–

RAW Labs, today announced it has completed a USD 5.5M pre-A funding round raising capital from new and existing investors to support the surge in demand for its revolutionary data management solution. The company also announced Lars Farnstrom as its new CEO.

The financing round was led by a group of investors specializing in investments of high growth technology companies and Investiere.ch. The funding will enable RAW Labs to accelerate the acquisition of large enterprise clients and continue investing in the expansion of the capabilities of its core NoDB data platform. Claude Honegger (former global CIO of Credit Suisse) and Pyrros Koussios (former private equity investor and senior executive at international technology companies) are joining the board of directors.

“We are excited that Lars has accepted the CEO role. His long experience in enterprise software from companies like Siebel Systems and C3.ai is a tremendous asset and will enable us to take RAW Labs to the next level,” said Ariel Luedi, one of the founding investors of RAW Labs and former CEO of SAP Hybris. Professor Anastasia Ailamaki, co-founder of RAW Labs, will continue as Chief Scientific Officer with the mission to strengthen the company’s research into groundbreaking data management technologies.

RAW Labs’ NoDB is a platform for data engineers, data scientists, and data analysts to seamlessly access, query, clean, and enhance heterogeneous data sources in near real time and transform them into high-value data products for consumption by analytical tools, ML-models, and enterprise applications.

What makes RAW NoDB unique is its revolutionary query engine, which unlike any other solution in the market uses Category Theory. This gives RAW the unique capability to query large and complex data sources at high performance without the need for any costly and time-consuming ETL/ELT preprocessing or integration with data sources.

“It’s a privilege to have a group of sophisticated investors who have proven experience in helping technology companies scale,” said Lars Farnstrom, CEO of RAW Labs. “Data drives digital transformation. We believe that by eliminating the artificial barrier between operational and analytical data, and by enabling this in record time and without any expensive integrations, RAW Labs can help companies accelerate their digital transformation. Just connect your data sources and start asking questions that will help you unlock new insights on how to reduce costs or increase sales.”

About RAW Labs
RAW Labs, an École Polytechnique Fédérale de Lausanne (EPFL) spinout, helps companies unlock the value of data by providing a single unified platform to effortlessly access and convert any data source into data products for new insights and better decision making, at a fraction of the time and cost of traditional solutions. RAW is available on premise, in the cloud, or in hybrid mode.
For more information, visit https://www.raw-labs.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210211005738/en/

Sarah Balgera
Marketing Director
[email protected]

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