Rescale Raises $50 Million in Series C Funding 

SAN FRANCISCO, Feb. 2, 2021 -- Rescale, a leading hybrid HPC cloud platform enabling intelligent computing for digital R&D, today announced it has closed $50 million in Series C funding from Hitachi Ventures, Microsoft’s M12, Nautilus Venture Partners, NVIDIA, Republic Labs and Samsung Catalyst Fund, bringing the company’s total funding to over $100 million.

Rescale is accelerating cloud adoption for the science and engineering community that is still largely on-premises in private datacenters. Massive markets and more than 80% of the verticals served by Fortune 500 are powered by HPC (total annual spend expected to reach $55 billion by 20241) and computer simulation (total spend estimated to reach $21 billion by 20252). Many workloads in the overall scientific research and development category, estimated at $185 billion in 20203, benefit from the advantages of hybrid public cloud and on-premises computing made possible by Rescale.

“Rescale is the first intelligent HPC cloud platform created specifically for digital R&D empowering the research scientists and engineers who are building the future,” said Joris Poort, CEO and co-founder at Rescale. “In the legacy on-prem HPC cluster world, engineers wait in queues for access to capacity so they can run their jobs, they wrestle with complex software and hardware configurations, and they are generally constrained by IT. Rescale gives engineers simple access to thousands of preconfigured software and hardware profiles, the on-demand capacity of the public cloud provider of their choice, and the ability to focus on R&D outcomes and speeding delivery of new innovation, instead of managing HPC infrastructure.”

Today, only 20 percent of HPC workloads run in the cloud4. The industry dramatically lags Global 2000 enterprise cloud adoption for many reasons. Rescale was founded to bring HPC workloads to the cloud to lower costs, accelerate R&D innovation, power faster computer simulations, and allow the science and research community to take advantage of the latest specialized architectures for machine learning and artificial intelligence without massive capital investments in bespoke new data centers.

Rescale was born out of experiences at Boeing, where co-founders Joris Poort and Adam McKenzie (now CEO and CTO, respectively) were aerospace engineers leveraging machine learning techniques to optimize the 787 wing structure. Their experience building a high performance computing simulation environment led to an epiphany that engineers and scientists around the world had similar requirements and were needlessly constrained by computing capability. Why not find a way to run complex workloads in the cloud, and accelerate their performance with specialized architectures? They founded Rescale to give the R&D and IT community the first hybrid cloud infrastructure platform optimized for HPC.

Rescale Backed by Leading Investors

SAMSUNG

“Computer simulation, artificial intelligence, and machine learning are accelerating product design cycles in R&D domains across all industries,” said Shankar Chandran, Senior Vice President, and Managing Director, Samsung Catalyst Fund. “The ability to run the latest applications on state-of-the-art Cloud hardware, which take advantage of new specialized architectures, along with the ability to tap into unlimited Cloud capacity with on-demand burst capabilities, has a significant impact on the time-to-market. Rescale is a key enabler for those Enterprises wishing to accelerate R&D through use of a multitude of applications that are run on top of finely tuned compute and storage resources in the Cloud.”

Today the Rescale platform is the scientific community’s first cloud platform optimized for algorithmically-complex workloads, including simulation and artificial intelligence, plus integrations with more than 600 of the world’s most-popular HPC software applications and more than 80 specialized hardware architectures. Rescale allows any science engineer to run any workload, on any major public cloud, including AWS, Google Cloud, IBM, Microsoft Azure, Oracle and more. Today more than 300 customers already use the Rescale platform, including Aerion Supersonic, Amgen, AGC, Arrival, AZothBio, Bionano Genomics, Boom Supersonic, Denso, Dinex, Doosan, Gaon Chips, ISAR Aerospace, LS Industrial Systems, McCormick Stevenson, Modine, Optisys, Nissan, pSemi, Quadric.io, RWDI, Samsung, Sensatek, Specialized Bicycle Components, SSE Renewables, Toyo, Uniandes, and the University of Pennsylvania.

Customers Accelerating Simulations Building the Next Big Thing in HPC and AI

BIONANO GENOMICS

Recent events have placed a spotlight on the life sciences industry like never before, and genome analysis company Bionano Genomics has stepped up to provide the world with answers. Through their Saphyr system, Bionano Genomics makes it possible to identify previously undetectable variations in genome structure to accelerate the promise of personalized medicine relating to everything from COVID-19 to cancer.

“Bionano’s Saphyr system for genome analysis is becoming an important tool in clinical and research settings worldwide,” said Mark Oldakowski, COO of Bionano Genomics. “The deep analysis of structural variants for genetic disorders and cancers requires fast and inexpensive HPC. Through Rescale, Bionano is able to utilize mutli-cloud and regionalized HPC nodes that are secure and optimized for speed and cost. This provides Bionano's customers with on-demand computing capacity to help them scale while giving me the confidence that I'm offering the best available cloud solution."

About Rescale

Rescale is a leading hybrid HPC cloud platform delivering intelligent computing for digital R&D, and enabling more than 300 customers from startups to Fortune 50 enterprises to accelerate design cycles and time to market. Founded by former Boeing aerospace engineers, Rescale gives research scientists and engineers the ability to run their simulation and artificial intelligence workloads on the cloud provider of their choice, using specialized hardware architectures and software templates optimized for their use cases, without any set-up or maintenance. Rescale's HPC cloud infrastructure is the engine accelerating product research and development cycles across many of today's most exciting scientific use cases.

Source: Rescale