Israeli Deep Data Analytics Firm proteanTecs Secures $45M
Israel’s proteanTecs, a company that performs in deep data analytics for electronics monitoring, announced last week the completion of a $45 million Series C funding round.
The round was led by venture capital firm Addition, and it brings proteanTecs’ total funding to nearly $200 million. The company will leverage its latest capital to expand its global team and continue advancing its product offering.
The investment falls in line with the company’s growth strategy and capitalizes on its Growth Equity Round and recently closed Growth Equity Round Extension, which were both led by investment firm Koch Disruptive Technologies. Taiwanese semiconductor company MediaTek, Japanese semiconductor company Advantest, and German holding company of Volkswagen Group Porsche SE have all recently joined as new investors. The company is headquartered in Haifa with offices in New Jersey, California, India and Taiwan.
Founded in 2017, proteanTecs provides deep data and advanced cloud and edge enterprise monitoring solutions for advanced electronics in the data center, automotive, communications, and mobile markets, enabling customers to scale their respective operations. Its analytics platform uses proprietary chip telemetry data and machine learning to secure end-to-end system visibility to monitor performance and deliver predictive insights to avoid instances of malfunction.
“As technologies advance and usage requirements grow, monitoring and analysis are imperative to achieve scale and predictability,” said Shai Cohen, CEO and co-founder of proteanTecs. “Helping companies transform production and service by providing critical business insights is built into our DNA. We look forward to working with our new partners as we enter a new and exciting phase of the company’s growth.”
“ProteanTecs’ software provides unique visibility into the reliability and security of electronics systems, which will remove roadblocks for customers as they continue to scale their businesses with more advanced chips,” said Lee Fixel of Addition. “We look forward to supporting the proteanTecs team as they expand their global footprint and continue to drive innovation for performance monitoring of electronics.”