London-based Brytlyt, a startup that provides data analytics and visualisation technology, announced that it has raised $5M (approx €4.43M) in an extension of its Series A round of funding.
The investment was made by AlbionVC, and existing investors Amadeus Capital Partners and Finch Capital.
The funding marks the release of Brytlyt.io, a fully serverless deployment model for analytics and data science workloads. This release comes at a time when, according to a report by Morgan Stanley, the data analysis sector is predicted to be worth more than $75B (approx €66.52B) by 2024, covering applications in AI and Business Intelligence.
Cat McDonald, Investor at AlbionVC, says, “Organisations that can extract insights from big data in a timely manner will be the leaders of tomorrow. Our investment in Brytlyt.io is in firm support of that thesis. We are therefore delighted to welcome Brytlyt.io, and visionary founder Richard, into our growing portfolio of cutting-edge data companies that includes Quantexa, Solidatus, Elliptic and more”