Expanso, a Seattle, WA-based company providing open-source software that helps enterprises to manage their ever data needs, raised $7.5M in Seed funding.
The round was led by General Catalyst and Hetz Ventures, along with Array Ventures.
The company intends to use the funds to expand operations and its business reach.
Led by CEO David Aronchick, Expanso is a startup built to help enterprises manage their data needs with a distributed approach to big data processing powered by its open-source software Bacalhau. Bacalhau is built on the principle of “Compute Over Data,” which means that it brings the processing jobs to where the data is, rather than moving the data to the cloud first. This has a number of advantages, including:
- Reduced costs: Moving large amounts of data to and from the cloud is expensive.
- Enhanced speed: Bacalhau processes data locally, removing cloud transfer latency and boosting performance for data-heavy applications.
- Increased security: Not moving the data reduces the risk of data breaches and other security incidents.
Further, with Bacalhau, users can streamline their existing workflows without the need of extensive rewriting by running arbitrary Docker containers and WebAssembly (WASM) images as tasks. The software can run on-premises, or inside of any cloud including Amazon Web Services (AWS), Microsoft Azure, Google Cloud, Oracle Cloud, and many more.
The software offers a free demo network which has been live for nearly six months. Since launching, their network has handled more than 1.5 million jobs for design partners like the University of Maryland, BOINC, New Atlantis Foundation, and many more.
FinSMEs
21/11/2023