Data Company Iguazio Raises $24 Million

Israel-based big data management startup Iguazio Systems Ltd. has raised a $24 million funding round, the company announced Monday. The round was led by INCapital Ventures, with participation from Pitango Venture Capital, Verizon Ventures, Magma Venture Partners, Samsung SDS, Kensington Capital Partners, Plaza Ventures, and Silverton Capital Ventures.

Founded in 2014 and based in the central Israeli town of Herzliya, Iguazio offers data management services and artificial intelligence tools designed to improve the performance, security, and scalability of machine learning applications. The company also markets an open-source serverless framework that enables the development of AI applications for manufacturing, healthcare, pharma, insurance, financial services, and telecommunications. The company has raised $73 million to date.