| |
Funds for Business Analytics Firm Incorta
Real-time analytics platform Incorta has announced an additional $15m in funding led by new investor Kleiner Perkins. The money will boost product development, sales and marketing, contributing to he firm's international expansion.
Kleiner Perkins, whose previous investments include the likes of Google, Amazon and Twitter will get a seat on Incorta's board of directors for its General Partner Ted Schlein. It was joined in the new funding by GV (previously Google Ventures), which led the company's $10 million Series A round in May 2016; and by former Oracle EVP Ron Wohl.
Incorta uses its 'Direct Data Mapping engine' to aggregate complex business data in real-time, replacing the traditional 'extract, transform, load' (ETL) process and 'bypassing the need for a traditional data warehouse'. This, says the company, 'reduces from months to days the time required to roll out new analytics applications, and reduces query and reporting times from hours to seconds'.
Schlein says the company is delivering true 'information freedom' to business users, 'at a low total cost of ownership to the business at-large'. Incorta co-founder and CEO Osama Elkady comments: 'We're very pleased to welcome to the Incorta family Kleiner Perkins, one of the top VCs in Silicon Valley, and Ted himself - a highly respected, experienced technologist. The response to our Direct Data Mapping technology launched in March far exceeds our initial expectations. We're signing new customers at a record rate, while existing Fortune 500 customers are expanding their implementations and re-signing seven-figure contracts with us'.
Web site: www.incorta.com .
|
