Big Data Firm Platfora Raises $38m

US-based big data analytics software company Platfora has raised $38m, to invest in talent and technology.

Platfora's Hadoop-based apps allow non-specialist business users to explore, interact with and derive insights from massive data sets, via a web-based interface. The new funding has been led by Tenaya Capital, with participation from Citi Ventures, Cisco and Allegis Capital, as well as prior investors Andreessen Horowitz, Battery Ventures, Sutter Hill Ventures and In-Q-Tel. The investment brings the company's total financing to $65m, which includes a $20m Series B round closed in 2012.

CEO and founder Ben Werther (pictured) comments: 'Enterprises are awash in data but are struggling to gain useful insights. With our big data analytics platform, we're helping organizations participate and win in the 'fact-based economy', which we estimate will unlock $5 trillion in new value in the next ten years through novel uses of big data.'

Web site: www.platfora.com .

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