Platfora, the Big Data Analytics software company that aims to eradicate the gut decision, today announced a $38 million investment led by Tenaya Capital, which brings the company’s total financing to $65 million. Also participating in this round are Citi Ventures, Cisco and Allegis Capital, as well as prior investors Andreessen Horowitz, Battery Ventures, Sutter Hill Ventures and In-Q-Tel.
The company will use the funds to invest aggressively in talent, technology and field organizations to enable Platfora to lead organizations in a once-in-a-generation shift away from SQL-based business intelligence technology into the current era of Big Data Analytics.
The widespread adoption of big data infrastructure by mainstream enterprises presents a tremendous opportunity for analytics vendors. We believe Platfora’s unique intellectual property and its ability to help any company unlock new business opportunities from their data assets will resonate in the market,” said Brian Paul, Managing Director at Tenaya Capital.
For big data to be valuable now and in the future, organizations must add a purpose-built analytics platform on top of Hadoop that can scale exponentially and handle all forms of big data: customer interaction, transaction and machine data. Platfora created a leading Big Data Analytics platform that puts these types of data at the fingertips of line-of-business users. Now non-technical users can interactively manipulate data to make fact-based decisions without the intervention of IT, gaining never-before-possible competitive advantage from their big data.
Enterprises are awash in data but are struggling to gain useful insights. While intuition is critical in business, business executives readily admit that they are still making too many gut decisions because they cannot adequately access or analyze all of their data to make better informed decisions. They cannot access or interpret these new large and heterogeneous big data sets fast enough,” said Ben Werther, CEO at Platfora. “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 10 years through novel uses of big data.”
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