Gaining timely insights from data can make the difference between success and failure, but for many businesses, big data is just too big. Brytlyt, who want to change that with what it claims to be the world’s most advanced data analytics visualisation platform, has announced a further $5 million investment to fund their expansion. Adding to the $4 million raised in their initial Series A round in May 2020, the extension means Brytlyt has received a total of $11 million in funding.
The round saw previous investors, Amadeus Capital Partners and Finch Capital, joined by AlbionVC. All have been impressed not just by the technical capabilities of Brytlyt’s platform, but also the architecture that allows it to be integrated easily with the client’s existing systems. The funding will support expansion in the European and US markets, alongside recruitment to develop and deploy new products.
An innovative market leader
Brytlyt has established itself as a market leader in the field of data analytics. It pioneered the use of Graphics Processing Units (GPUs), using the power intended for advanced graphics for database workflows. Combined with Brytlyt’s IP, it gives its customers access to visual data analysis thousands of times faster than they could achieve with legacy systems. Brytlyt is also the first database that can run both SQL and AI workloads simultaneously on the same data using the same hardware.
The sheer power of their product is already helping businesses support their efforts to increase efficiency and profitability across a range of sectors.
Brytlyt’s suite of products offers clients a unique tool to get insight from their datasets. Large companies create and manage enormous amounts of data, often with billions of rows. However, actually utilising this data to provide actionable insights is not just difficult, but for many businesses, it can be close to impossible. The sheer volume of data can mean that data teams have to spend considerable time extracting and analysing data, with no guarantee it will produce useful insights, or they can be produced quickly enough to have value.
Richard Heyns, who founded Brytlyt with his wife, Maria, explained to TFN what this could mean, “usually a business will have to prepare the data, aggregate it, then run their queries or analysis — often taking days or hours.” Instead, Brytlyt offers a solution that can work as fast as the analyst thinks. “A telco analyst, for example, can see what kind of connection quality their customers have. And can zoom in or out, to see raw data points or the entire location dataset. And all their dashboard queries will be updated in milliseconds.”
The solution is serverless, using Brytlyt.io which combines their entire product suite of BrytlytDB, Spotlyt, and BrytMind. These combine GPU-accelerated analytics and patented IP to provide speed-of-thought analysis of the data. The fast, clear, visual analysis means clients can get close to real-time insights of their end-users actions, enabling them to use the data for areas like fraud prevention, customer retention or performance improvements.
The BrytMind product also brings AI to the offer. Using an in-database approach that reduces training times. The combination of machine learning and their optimised data analysis creates a new and innovative product, says Heyns, “We are bridging the gap between the old SQL world and the new and exciting world of AI, enabling companies to bring their infrastructure up-to-date and extract value from their data in real-time.”
Expanding to serve the world’s data
The funding will expand Brytlyt’s geographical and product reach, says Heyns. A high priority will be increasing the company’s team beyond its current 42. “We want to see growth in specific areas of the business in line with our commercial and development objectives. This includes increasing the size of our sales, marketing, and product teams.”
One of Brytlyt’s key advantages is that it’s built on PostgreSQL. An open-source relational database management system, its support for SQL means that it can integrate easily with virtually any business’s datasets. Indeed, this was one of the key attractors to AlbionVC, which highlight the wide applicability of Brytlyt’s product.
Aside from the technical capabilities of Brytlyt’s products, its architecture, its serverless Brytlyt.io offer, and the pay-as-you-go model mean that any business can now access the sort of analytical horsepower that was previously reserved only for major organisations.
The combination puts Brytlyt in a strong position in a market that’s projected to be worth more than $75 billion by 2024. While there are plenty of competitors in the space, Brytlyt is the only one that offers a solution that can integrate so easily with existing databases, meaning data teams can quickly and easily enhance their work. Brytlyt’s offer, Heyns says, is simple, “our platform enables businesses to ask more of their data.”
