ClearStory Secures $21M to Help Companies Process More Data Faster
Palo Atlo-based startup ClearStory Data, the company that’s bringing Data Intelligence to everyone, has recently manage to raise over $21 million in Series B funding round of venture capital. The company has manage to raise a total amount of $31.5 million since its launching back in 2011. New investors DAG Ventures had led this round, with participation from previously existing investors Andreessen Horowitz, Google Ventures, Khosla Ventures and Kleiner Perkins Caufield & Byers.
ClearsStory approaches with a business intelligence that stands out due to the company’s cloud-based service enables a variety of unique features. Among them, it allows users to analyze multiple data sources at the same time and “harmonizes” them into working better with each other. It scores datasets to suggest additional sources that may match up well with others being analyzed. ClearStory will also be offering a variety of external data source, some proprietary and some free, that user can access to their “stories”
Due to the fact that the service is built on top of Apache Spark, its will be able to perform its analyses much more faster. The Spark Foundation had recently allowed ClearStory to add further support for up to 14 data sources at one time. Sharmilia Mulligan, Co-counder and CEO, had commented that its very popular among consumer products companies that have a necessary need to analyze lots of variables in order to maximize merchandising and pricing, and its also been gaining attention for the pharmaceuticals industry that stand to lose money with every delay in analyzing drug trail data.
Big Data Trend.
This recent trend of BI companies specifically designed around big data companies, have shown to raise alot of money really quick, Other companies like, Hadoop-centric startup Platfora had managed to raise a $38 million in series C funding round. Mulligan has gone of it say that its most likely due to how much data is currently available to analyze and how quick businesses need to act in a world where words spreads through the speed of light with social media, mobile applications, and the Internet itself.
“A company’s future is now in the hands of masses of consumers,” she said.