View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Data
December 8, 2015updated 21 Oct 2016 5:32pm

Big data analytics firms raises addtional $30m

News: Claims that combining technology means drastically shorter data crunching times

By Sam

Big data analytics firm Platfora announced $30 million in growth-stage financing from investors HSBC and Harmony Partners, with participation from earlier-stage backers including Allegis Capital, Andreessen Horowitz, Battery Ventures, Citi Ventures, Cisco, Sutter Hill Ventures and Tenaya Capital.

This round brings Platfora’s total amount raised to $95 million.

The firm said it signed dozens of new customers including consumer brands Sears, TiVo and Kelley Blue Book.

"Organizations of all types are facing big challenges to harness the power of big data analytics and need to empower business users with the right tools to address them," said Remi Bourrette, Head of Strategic Innovation Investments, HSBC. "We identified Platfora as a partner in this field, given it’s an important player in an evolution that could affect many industries the way business intelligence did in the early 2000s."

Platfora says it combines traditionally separate tools — analytics, business intelligence, data visualization, data preparation and in-memory acceleration.

Its ‘s big data discovery platform reduces project completion from 12-18 months to a matter of hours, it claims.

"Platfora provides answers faster than conventional data warehouses and BI environments ever could, and at about 1/10th the cost," said Tom Chang, Software Engineering Manager, Cisco WebEx.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

"Self-service platforms such as Platfora unleash the expertise of data scientists," said Chris Kudelka, Data Engineer, Riot Games. "Insights from League of Legends’ 67 million monthly active users led to actions taken that improved the overall player experience."
Platfora is Gaining Steam as it Heads into 2016

Tthe company announced its prior financing round of $38 million in March 2014

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.