Hydrolix, a streaming data lake company that is disrupting the economics of big data, has been awarded a Digital Innovator 2024 Award from Intellyx, an industry analyst firm that focuses on enterprise digital transformation and the disruptive vendors that support it. The Hydrolix platform offers enterprises with data-intensive applications real-time performance metrics at a fraction of the cost of other data solutions.
The Hydrolix streaming data lake is different from other log storage platforms because it combines real-time stream processing, advanced data compression, decoupled storage, and low-latency indexed search to create a high performance log management system that delivers real-time query performance at terabyte-scale for a radically lower cost.
“Being recognized as an innovator in a sea of enterprise software solutions is a solid proof point around not only the maturity of our solution but also for the pressing need of what we’ve built,” said Marty Kagan, co-founder and CEO at Hydrolix. “It’s part of our mission to reduce the anxiety that comes with increasing volumes of data as companies scale, and we’re grateful for the exposure this award offers so we can help even more enterprises manage their data cost-efficiently and securely.”
Intellyx interacts with numerous innovators in the enterprise IT marketplace, identifying the trailblazing companies as recipients of the Intellyx Digital Innovator Award, putting a spotlight on vendors worth watching. The company recently closed a $35 million Series B round led by S3 Ventures. Prior investors such as Nava Ventures, Wing Ventures, AV8 Ventures and Oregon Venture Fund also participated in this round, which brings the company’s total funding to date to $68 million. Hydrolix has recently hit its stride, doubling revenues in Q3 and Q4 in 2023 and growing another 75% in Q1 of 2024. Hydrolix also received a Data Breakthrough award.
“At Intellyx, we get dozens of PR pitches each day from a wide range of technology vendors,” said Jason Bloomberg, president of Intellyx. “We will only set up briefings with the most disruptive and innovative firms of the lot. That’s why it made sense for us to call out the companies that made the cut.”
SOURCE: PRWeb