TigerGraph wins $105mn funding, expands global ecosystem - The EE

TigerGraph wins $105mn funding, expands global ecosystem

Todd Blaschka of TigerGraph

Graph analytics platform provider, TigerGraph, has expanded its partner ecosystem in the United States, Europe and Asia to help meet the growing demand for its platform. The company has added global systems integrators, technology vendors and fulfilment companies to its partner roster.

This partner programme expansion comes after the company recently closed a US$105 million (€88.46 million) funding round, the funding round to date within the graph database and analytics market.

“TigerGraph is experiencing escalating demand for graph database and analytics as businesses seek better insights about their customers, products and suppliers. One of the ways we’re addressing this interest is by expanding our network of top-tier channel partners,” says Todd Blaschka, COO of TigerGraph.

“The combination of our partners’ deep domain expertise and TigerGraph’s advanced analytics and machine learning platform is helping organisations in multiple sectors ask business logic questions and receive business answers in real time. These answers fuel key insights that, in turn, enable financial institutions, healthcare providers and retailers to preempt and prevent fraud, improve patient care and boost the customer experience.”

Gartner lists graph as one of its “top data and analytics trends for 2021,” claiming, “graph relates everything”: “Although graph technologies are not new to data and analytics, there has been a shift in the thinking around them as organissations identify an increasing number of use cases.”

TigerGraph’s deep, broad technology partner relationships will help meet this increasing appetite for graph analytics. TigerGraph partners with organisations that offer complementary technology solutions and services.

The company’s partner programme connects sellers deeply with new prospects, providing unparalleled access to one of the most exciting movements in enterprise software. Partners such as Accenture, Capgemini, AMD, Dell, Lenovo, Expero and others, are enabling businesses to realise the full potential of graph analytics. In addition to European partners, TigerGraph’s global roster also encompasses partners in APJ and Africa, including SaH Analytics, Intech Solutions and Megazone. Use cases include:

Fighting financial crime

TigerGraph has worked with Dell, Expero and Xilinx to develop next-generation solutions for AML detection, investigation and reporting; the combined solutions provide organisations with real-time “prevent and intervene” strategies.

TigerGraph and Expero have developed several joint toolkits that facilitate easy deployment and integration, including a financial crimes toolkit aimed at combating money laundering with graph analytics and machine learning. In fact, the TigerGraph-Expero combination boosts fraud detection accuracy by 20%, while cutting costs by 10%.

Scott Heath

Meanwhile, TigerGraph and Xilinx combine FPGA with graph database and analytics to accelerate the Louvain community detection algorithm, which helps identify potential fraud and money laundering rings among large datasets 20 times faster than a CPU-only alternative.

“We can use analytics to look at risk factors within the network of relationships and transactions between people and companies and then use graph technologies to examine risks that we may not have been able to see before,” says Heather Adams, managing director, resilience risk and trust, Accenture.

“Any step forward in better identifying where fraudsters are taking advantage of customers or where your organisation is being abused by criminals is a great step forward and one that society as a whole can benefit from. Data and analytics can absolutely be a part of that journey.”

Improving healthcare

TigerGraph has teamed with Expero for a “doctor 360” application for Exact Sciences, a provider of cancer screening and diagnostics tests. Exact Sciences, with graph analytics, can more effectively reach doctors with targeted marketing materials about the latest cancer detection options. Also, current patient engagement patterns are more direct-to-consumer with the advent of telemedicine and social media.

As a result, the need for real-time, deep-link customer journey analytics has intensified. The combined solution allows for a deeper understanding of the doctor and patient journey, eliminates churn, boosts productivity and increases profits.

“The life sciences industry revolves around deep data relationships and connected data,” according to Scott Heath, chief revenue officer at Expero. “The TigerGraph-Expero combination pulls multiple silos of data together for a single customer view.

This reveals customer journey findings for more accurate up-sell and cross-sell opportunities, boosting revenue in the process. Today’s medical landscape can benefit from graph and machine learning at all ends from doctors analysing patient data and clinics accessing physician data to patients interacting with telemedicine apps and more.”

TigerGraph is working with partner SaH Analytics on another healthcare-related graph analytics initiative this one involving COVID-tracking in Côte d’Ivoire (Ivory Coast). The country’s ministry of health is spearheading a major COVID-tracking initiative in the region, and the project is based on SaH Analytics’ cloud platform that is fueled by TigerGraph’s advanced graph analytics.

The COVID-tracking solution detects, tracks and analyses infection patterns in real time. Medical staff are then guided via Google maps and GPS to those who need medical care. The ministry of health can also use this data to coordinate with other government teams throughout Western Africa.

Transforming insurance

TigerGraph has teamed with Abhay Solutions (ASI) to advance the property and casualty insurance industry with graph. As it stands, insurance companies with multiple lines of business work with multiple applications, including those for claim centres, agent portals and even the DMV.

This translates to dozens of external data integration points, isolated data silos and numerous hops. The TigerGraph-ASI solution unifies data from various sources to help insurance companies better serve policy-holding customers and achieve their business goals in the process.

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