A Campbell startup that helps to ease moving data around in artificial intelligence applications said on Tuesday that it doubled its valuation in its second large funding of 2022.
Weka says it has come up with a new way to move large amounts of data through virtualization instead of the more laborious task of copying it. This is particularly useful in amassing volumes of data used in machine learning and artificial intelligence. "We started the year with a pretty aggressive plan to triple our business and we managed to do that in the first three quarters," he said. Total contract value grew by 635% year-over-year through its third quarter and annual recurring revenue grew by 232%, the company said in September.
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