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Pyramid Analytics Raises $50 Million from BlackRock to Capitalize on Booming US$665.7B AI and Big Data Market

Pyramid Analytics, which specializes in AI analytics, closed new funding for US$50 million led by BlackRock, the world's biggest asset manager. The investment will underpin a strong interest in AI-driven solutions for businesses, especially at a time when global big data and business analytics are projected to reach US$665.7 billion in 2033.

Pyramid Analytics is renowned for its sophisticated platform, combining machine learning and AI to simplify data analysis. The firm helps its major clients go beyond the likes of the U.S. Food and Drug Administration (FDA), Hallmark, Deloitte, and Volkswagen and extract data insights to make smarter decisions. The firm's earlier Series E funding round in May 2022 raised US$120 million; thus, this new US$50 million constitutes a meaningful addition to its financial support.

Pyramid Analytics Gets Funding to Accelerate AI

Demand for AI business analytics solutions keeps going up and up as companies around the world scramble to integrate artificial intelligence into their businesses. In a funding market that had pretty much been subdued for private companies, another AI-sector startup, Pyramid Analytics, remains a highlight of the trend. With this new round of funding, Pyramid Analytics will take its offerings to the next level in a rapidly evolving field: data analytics.

According to Allied Market Research, the global big data and analytics market is expected to reach the level of US$225.3 billion by 2023. Therein lies an assured growth over the decade. This growth is further fueled by an augmented emphasis on AI and machine learning set of algorithms that enable businesses to look deeper into their data and derive quick decisions that help the firm to assert smarter and more efficient operations in business.

Pyramid Analytics is really well positioned to further its strong position in the space for AI-powered analytics with the backing of BlackRock and also expand its client base across various industries. Indeed, the company's mission of simplifying data-driven decision-making through advanced technology presents it as a standout in a hyper-competitive world of AI analytics.