Tidemark Secures $13m for Enterprise Analytics

Business analytics firm Tidemark has raised $13m in new venture financing, which will support expansion of its cloud-based solutions.

Redwood City, California-based Tidemark, which was founded in 2010 by former SAP exec Christian Gheorghe (pictured), creates apps to enable businesses to analyze data using remote computers rather than their own computing infrastructure. The company has just announced 250% growth for the first half fiscal year (ending 31st July).

The latest funding, which has been led by Tenaya Capital with participation from existing investors Greylock Partners, Andreessen Horowitz and Redpoint Ventures, brings the total amount raised to date to more than $48m.

Gheorghe comments: 'The velocity of business and increasing importance of data outside a company's walls have created new challenges that can't be solved by focusing on a few power users who act as the gatekeepers to information. We're excited about the caliber of customers we continue to add to the Tidemark family, and their trust in us to help facilitate the business transformation they are seeking.'

Web site: www.tidemark.com .