Southampton: Brytlyt attracts growth funding
A 2019 participant in the Catalyst business accelerator programme has raised $6 million since it participated in the Southampton Science Park’s prestigious scheme for early-stage technology businesses.
The latest investment in Brytlyt, provider of the world’s fastest data analytics and visualisation technology, is $4m in Series A funding from global technology investor Amadeus Capital Partners and Finch Capital. This cash injection will enable the company’s founder Richard Heyns to build a strong sales operation, enter new markets and grow its world-class engineering team.
Robin Chave, Southampton Science Park CEO, commented: “We are thrilled to see Richard and Maria building Brytlyt into a seriously successful business. We recognised that their technology had enormous potential when we invited them to join our Catalyst programme last year, so it is immensely pleasing to see investors now enabling the company to achieve the growth it deserves. We wish the growing Brytlyt team every success as they gain traction and market share.”
Brytlyt uses its patent-pending software and artificial intelligence combined with graphics processor units to derive insights 1,000 times faster than legacy systems. Its flagship product SpotLyt can handle complex queries on billions of rows of data, delivering results in milliseconds in the form of user-friendly graphics, maps and charts.
With faster, clearer visual analysis, customers can interpret their end-users’ behaviour in essential areas such as fraud prevention, attracting and retaining customers, network performance optimisation and risk management, supporting better decision-making and improved outcomes. This approach is seen as potentially game-changing for several sectors including telecommunications, finance, retail, healthcare and logistics.
