SUMMARY
Post this round, Bob Muglia, former Snowflake CEO and former Microsoft president of Servers and Tools, will join the Julia Computing board of directors
The funds raised will be used to develop and advance its cloud platform, JuliaHub, and focus on new Julia-based product developments for pharmaceuticals, energy, finance and other sectors
According to a report, businesses that invest in new-age technologies like cloud computing, marketing automation and more, enjoy 53% higher revenue
Julia Computing today announced the completion of a $24 Mn Series A fundraising round led by Dorilton Ventures, with participation from Menlo Ventures, General Catalyst, and HighSage Ventures. Additionally, post this round, Bob Muglia, former Snowflake CEO and former Microsoft president of Servers and Tools, will join the Julia Computing board of directors.
The company said it would use the funds raised to develop and advance its cloud platform, JuliaHub, and focus on new Julia-based product developments for pharmaceuticals, energy, finance and other sectors.
Julia Computing was founded in 2015 by Alan Edelman, Deepak Vinchhi, Jeff Bezanson, Kino Fischer, Stefan Karpinski and Viral Shah, the creators of the Julia programming language, which was originally developed at the Massachusetts Institute of Technology (MIT) and introduced to the public in 2012.
The language is used in artificial intelligence, data science, machine learning, modeling and simulation.
The JuliaHub platform makes it easier to develop batteries, new drugs and therapies and simulate space missions, Shah said in a statement, while using fewer resources and reducing data center emissions.
Currently the company claims that Julia is used by more than 10,000 companies worldwide, including AstraZeneca, BlackRock, Google, Intel, Microsoft, Moderna, Pfizer, as well as NASA, the Federal Aviation Administration and the Federal Reserve Bank of New York.
“Technical computing is stuck in a rut today,” said Viral Shah, cofounder and CEO of Julia Computing and co-creator of Julia. “Data scientists and engineers are using products that were designed many decades ago. Juliahub makes it possible to design new drugs and therapies, develop new batteries, simulate a space mission, and map out the universe, all while using fewer computing resources and reducing data center emissions. We truly are defining the future of data science and simulation, and it is thrilling to help drive these exciting innovations. Reinforced by our latest funding, we look forward to scaling our team and bringing Julia’s superpowers to more industries and applications.”
Despite data pointing to the business efficiencies, cost-benefits, and competitive advantages it holds, cloud computing still hasn’t fully caught up with the startup community. According to a report, businesses that invest in new-age technologies like cloud computing, marketing automation and more, enjoy 53% higher revenue. According to another report by RapidScale, 94% of businesses saw an improvement in security after switching to the cloud, and 91% said the cloud makes it easier to meet government compliance requirements.
