Acrew Capital, with the U.S. Innovative Technology Fund, True Ventures, and Amity Ventures invested in the platform generating substantial revenue from major enterprises and the defense sector
SAN FRANCISCO, CA / ACCESSWIRE / April 19, 2023 / Ditto, creator of a distributed data platform that enables apps to synchronize data in real-time even without internet connectivity, today announced that it has closed $45 million in a Series A funding round led by Acrew Capital, with participation from U.S. Innovative Technology Fund (USIT). Existing investors True Ventures and Amity Ventures invested additional funding.
Apps today assume data lives only in one place, typically a singular cloud database. However, the reality is far more complex. A combination of the rapid growth of mobile or other edge devices and global cloud infrastructure means applications need to store and process data everywhere. If apps can't access important data, critical app processes break down until a connection is restored. Ditto's Intelligent Edge Platform combats this by enabling data to be accessible anywhere 24/7, ensuring low-latency app processes.
The Ditto platform provides a distributed database that runs anywhere, from edge devices to the cloud, enabling real-time, flexible, peer-to-peer data distribution, even in areas that have limited or no internet communication. This allows applications to process and communicate data where it is generated, circumventing the necessity of a central server and providing resiliency and low-latency capabilities.
Ditto is already generating substantial revenue, thanks to demand from the defense sector and major enterprise customers including Alaska Airlines, Lufthansa, Japan Airlines, Hugo, and the U.S. Air Force. The company's technology is critical to a range of industries including aviation, defense, point-of-sale, emergency, agriculture, healthcare, factory and warehouses, retail, and hospitality, where seamless connectivity and real-time data sharing are essential, regardless of internet availability.
"Ditto's long-term vision is to build the world's next great database," said Adam Fish, Ditto co-founder and CEO. "The addition of Acrew Capital and U.S. Innovative Technology fund as investors to Ditto's existing backers True Ventures and Amity Ventures is a tremendous endorsement of the successful business we have built, the innovation we deliver that enables market disruption and the growth potential of Ditto."
"Ditto has established itself as a partner of choice for major brands with its powerful distributed data platform that enables seamless syncing of critical, real-time enterprise data even in places where internet connectivity doesn't exist," said Asad Khaliq, founding partner, Acrew Capital. "Acrew is glad to be partnering with Adam and team Ditto, and to support the company in this next phase of growth."
"With technology permeating every aspect of our lives, the break-neck advances Ditto is making in data management and accessibility are crucial to the future," said Thomas Tull, Chairman of USIT. "Ditto's developments have a tremendous number of applications across sectors - from everyday life to business to the Pentagon - that will become essential by the end of the decade. It is for these reasons that we are proud to support Ditto in its development and deployment of networked systems and seamless data management across the globe."
The company will use the funding to grow its sales and marketing functions and to accelerate the technology roadmap, expanding to more platforms like IoT, unlocking massive new performance, and bringing the power of its distributed data platform to more industries and use cases.
About Ditto
The Ditto Platform is a distributed data platform that allows apps to store, sync, and process data anywhere. By installing Ditto's Small Peer SDK into applications, developers can use APIs to read and write data and automatically sync any changes to other devices. Unlike other solutions, Ditto is designed for peer-to-peer synchronization where it can directly communicate with other devices even without an internet connection. Ditto's technology automatically manages the complexity of using multiple network transports, such as Bluetooth, P2P Wi-Fi, and Local Area Network, to find and connect to other devices and then synchronize any and all changes. With the Ditto Platform, your app will continue to operate in offline situations, and data can be shared without latency, resiliency, or security issues. All data changes are stored locally and will sync instantly when cloud or peer devices are discovered.
Founded in 2018 and headquartered in San Francisco, CA, Ditto has secured investments from Acrew Capital, USIT, True Ventures, and Amity Ventures. For more information, visit https://www.ditto.live/.
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SOURCE: Ditto.live
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