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Maana raises investment from Saudi Aramco, Shell, alongside Chevron, GE, Intel

Tuesday, May 3, 2016

Analytics platform Maana reports that it has raised $26m investment from Saudi Aramco Energy Ventures, as well as Shell Technology Ventures.

The company has investment from GE Ventures, Chevron Technology Ventures, Intel Capital, and Frost Data Capital.

Maana claims to be the first startup in big data analytics to raise such a large amount of funding primarily from strategic investors.

This "Series B" funding round brings the total funding raised to-date, to over $40 million.

This round also brings together some of the world's largest oil and gas and industrial enterprises as investors, many of which are also Maana customers and have seen the speed at which Maana enables them to optimize their key industrial assets and business processes.

Dhiraj Malkani, Investment Director at Saudi Aramco Energy Ventures and Andy Fligel, Director at Intel Capital, will join the Board. Carl Stjernfeldt, North America Venture Manager at Shell, will join as a Board Observer.

'Maana invented the enterprise knowledge graph, taking asset and process optimization to the next level. Our platform is unique in the way it forms operational knowledge from data in silos and translates this knowledge into recommendations for thousands of employees to make better day-to-day decisions,' said Babur Ozden founder and chief executive officer at Maana.

'We are very proud of the fact that our investors share our vision regarding the significance of the knowledge graph as a unique innovation in big data analytics for asset optimization. The business value that Maana is delivering to their organizations and customers is unlike any other technology available in the market today.'

'We decided to invest in Maana after seeing first-hand the business value that Maana's platform delivers in optimizing assets and processes at some of the world's largest industrial companies, said Dhiraj Malkani, Investment Director at Saudi Aramco Energy Ventures. '

"Maana's patented invention, the Emergent Semantic Graph, is transforming big data analytics with game changing technology that solves some of the most challenging enterprise problems,'

At the center of its advanced analytics platform is its "Emergent Semantic Graph." This enables distributed, high-speed computation for data mining and machine learning across all data silos and data types to provide a holistic view of assets and business processes to be optimized.

By doing this, it bypasses the traditional 'data lake' concept into the world of knowledge.

Instead of simply extracting data from their current silos and placing them into a 'lake,' Maana takes the data from silos and organizes it into a knowledge graph that enables analysts, subject-matter experts, and data scientists to truly collaborate -- for the first time -- on solving the toughest business problems.

Over time, Maana's enterprise knowledge graph grows and itself becomes a key information asset, capturing the complex relations and dynamics of how the business and its core assets operate. By capturing and representing operational knowledge, more people have access to it, enabling wider knowledge sharing transfer that leads to optimization of those assets and processes. Maana then enables subject-matter experts and business analysts to translate those big data insights into recommendations and embed them into line-of-business applications for thousands of employees to make smarter day-to-day decisions.

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