Sqream Acquires No-Code Data Platform Panoply

SQream Expands Cloud Offerings with Panoply Acquisition

SQream, a financially robust data analytics platform headquartered in Israel, has announced the acquisition of Panoply, a no-code data platform. This strategic move is designed to broaden SQream’s suite of cloud-based services.

Core Capabilities of Each Platform

SQream’s primary offering centers around its GPU-accelerated “data acceleration platform.” This technology is engineered to significantly enhance the speed of SQL queries and facilitate analysis on larger datasets.

Conversely, Panoply provides a no-code data integration solution, supporting connections to over 300 diverse data sources. Users can then analyze this integrated data using their preferred Business Intelligence (BI) tools, or directly within Panoply through SQL queries.

Furthermore, Panoply streamlines data warehouse configurations through automation. The combined strengths of both platforms appear highly complementary, with Panoply equipping SQream with the resources to extend its reach to a broader customer base.

Statements from Leadership

“This acquisition represents a crucial advancement in realizing SQream’s vision: to deliver the industry’s fastest data analytics platform, scalable to any data volume and deployable in any environment – cloud, on-premises, or at the edge,” stated Ami Gal, co-founder and CEO of SQream.

“By integrating Panoply’s capabilities, we are uniting SQream’s pioneering GPU technology with Panoply’s exceptional user-friendliness and streamlined integration process. This milestone is pivotal in our commitment to providing a new generation of analytics platforms prepared for the challenges of tomorrow’s data landscape.”

Investment and Financial Details

Since its founding in 2015, Panoply has secured $24 million in funding. Notable investors include Ibex Investors and C5 Capital, who spearheaded the company’s $10 million funding round in 2020. Additional investors are Blumberg Capital, 500 Startups, FundersGuild, and Intel Capital.

The financial terms of the acquisition have not been publicly disclosed by either company.

Future Operations and Synergies

Panoply will continue to function as an independent business unit. However, Yaniv Leven, Panoply’s co-founder and CEO, emphasized that the acquisition will grant the company’s 160+ employees access to expanded resources and specialized expertise.

SQream has articulated “ambitious growth plans” for Panoply to address the increasing demand for its services.

“From the outset, we’ve adopted a unique approach to cloud analytics,” Leven explained. “Our focus has been on shifting the emphasis from data storage and movement to the actionable insights derived from that data. SQream’s dedication to accelerating data insights aligns perfectly with this philosophy. The synergy between SQream and Panoply promises significant benefits for data professionals, broadening Panoply’s accessibility and extending the advantages of its automation, no-code interface, and simplicity to larger organizations.”