Tamr Inc. Secures $16 Million Funding led by Google Ventures.
A company founded by a big data serial entrepreneurs Andy Palmer and Michael Stonebraker, Tamr Inc., has recently revealed a software that dramatically reduces the time-to-value for enterprises that want to exploit all their data. The announcement was developed at the DataBeat 2014 conference, which is currently ran in San Francisco.
The company has also recently announced that it has managed to raise more than a total of $16 million in financing led by Google Venture and New Enterprise Associates (NEA). Rich Miner of Google Ventures and Peter Barris from NEA have joined Tmar’s board of directors. They shall be joining database pioneer Jerry Held, who is the chairman of the bard, alongside Andy Plamer and Michael Stonebraker.
Tmar’s scalable platform for data curation allows business connect and enhance all of their data, including internal data sources and external public data sources, as well as feeds from the Internet of Things (IoT).
During the early customer test, Tamr was able to connect, curate and prepare enterprise data with days or weeks, instead of taking months or quarters. The Tamr system identifies and connects a massive variety of siloed data across an enterprise by applying advanced machine learning with the insight of human guidance.
“Tamr is groundbreaking,” said Andy Palmer, CEO and co-founder of Tamr. “It brings to enterprise data the kind of advanced curation that’s defined successful data-driven consumer Internet companies. Early Tamr customers are getting some impressive results from the Tamr platform.”
“Tamr creates significant enterprise value,” said Rich Miner of Google Ventures. “Businesses can’t keep up with the number and depth of data sources exploding within their companies. Tamr combines machine learning and corporate knowledge to unlock a unified view of companies’ most valued data repositories.”
“Curation is a key theme in NEA’s portfolio across a number of consumer-focused verticals, from commerce to content,” said Peter Barris, Managing General Partner, NEA. “We are thrilled to find in Tamr the right technology and the right team to bring data curation into the enterprise, where there is tremendous opportunity to bring new levels of business insight and velocity to organizations.”
“With Tamr, CIOs and Chief Data Officers can now have visibility of all their data assets and their data experts,” said Tamr chairman Jerry Held. “We can provide a reusable inventory of all of an enterprise’s information assets – including the long tail of data sources that often reside in lines of business, under the radar of central IT organizations.”