Data Firm Reltio Looks for Rapid Expansion

Data management platform provider Reltio has raised $22m in Series B funding, for use in growing its workforce and its speeding its global expansion.

The firm's 'Platform-as-a-Service' model helps users to manage, share and use data, for purposes including planning, forecasting and customer engagement. The new round was led by venture capital firm New Enterprise Associates (NEA), joined by existing backers Crosslink Capital and .406 Ventures who previously put $10m into the company in its series A round. With the deal, NEA Partner Chetan Puttagunta joins Crosslink General Partner Jim Feuille and Reltio CEO and founder Manish Sood on Reltio's Board of Directors.

In addition to a number of high profile pharmaceutical client wins, Reltio has recently signed an alliance with IMS Health to power the latter's flagship IMS One platform. The company will expand its partner program along three lines: 'Powered by Reltio' - in which service partners can deply data-driven applications and solutions using its Cloud platform; Delivered by Reltio - providing third party data providers with a new channel to sell their data; and Integrated with Reltio, allowing technology providers the option to integrate their solutions with the Reltio Cloud.

Sood says of the financing: 'We were fortunate enough to receive multiple indications of interest in our funding round, and are very excited to have NEA join our team of supportive investors'. With an eye on recruitment, he adds: 'Our success comes down to the innovation and hard work of Reltio's employees. I would like to extend my heartfelt thanks to them, and invite those who are interested to join us in what continues to be a rewarding and fun journey'.

Web site: www.reltio.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.