| |
Funds for Data Firm Incorta
California-based data warehouse company Incorta has closed $30 million in Series C funding, for use in recruiting new staff, adding to partnerships with major public cloud providers, and continuing innovation for its Direct Data Mapping technology.
 The software which allows businesses to ingest source application data in its original form and analyze it without modeling and ETL overheads. Incorta says its sub-second query response times 'outperform Oracle Exadata or SAP HANA by orders of magnitude'.
The latest funding adds to $45m already raised and was led by Salt Lake City-based Sorenson Capital, with participation from existing investors including GV, Kleiner Perkins, M12 (formerly Microsoft Ventures), Telstra Ventures, and major investor Ron Wohl.
Incorta co-founder and CEO Osama Elkady [pictured] - a former Oracle VP - comments: 'As businesses race to become more data-driven and make real-time decisions across every aspect of their business, the volume and complexity of their data simply cannot be handled by the traditional ETL-based data warehouses. This new funding, paired with explosive revenue and customer growth, provides a clear line of sight to grow the business and continue to drive innovation to meet growing customer demand'.
The company says it has recently added new customer deals in financial services, retail and manufacturing; grown revenue 284 percent year-on-year; added 200 new employees over the last six months; and opened offices in Chicago, Dubai, and Bangalore. Senior level hires Maneesh Joshi as CMO and Johnny Botros as CFO strengthen the offer.
Sorenson MD Rob Rueckert says of the investment: 'As every business in every industry races to find competitive advantage through faster access to data, Incorta is poised to upend the data warehousing market with innovative technology that will end 30 years of archaic and slow data warehouse infrastructure. This type of disruptive innovation enables Incorta to capture a large share of the big data market and we're glad to join them in this exciting time for the company'.
Incorta has also been selected as one of twelve startups that Microsoft is actively promoting and selling through its AppSource certification, and has joined Amazon's AWS Data & Analytics Partner Solutions program. Tad Brockway, Corporate VP for Azure Storage, Media, and Edge at Microsoft comments: 'Microsoft is pleased to support Incorta's integration with Microsoft Azure Data Lake Storage. Our vision is to enable enterprises to store and query their data from a cloud-based data lake such as Azure Data Lake Storage. Incorta's solution of storing data in a standard Parquet file format enables the rich ecosystem of Azure analytics services and partner solutions to interoperate with this data, helping them realize the benefits promise of a single, unified data lake'.
Web site: www.incorta.com .
|
