DataGravity, a startup that won’t release a product until 2014, today pulled in an additional $30 million from Silicon Valley venture capital firms.
This second round of funding brings its total to $42 million, and it should help it realize its vision to sell “big data” tools to mid-size companies that can’t afford to hire a data scientist or data services team.
Dozens of startups that claim to help businesses store, analyze, and visualize their data have landed funding in recent months. DataGravity’s tagline is that it can turn “data into information,” marketing speak that is congruent with a slew of recently-launched startups, such as Platfora and DataHero. The founders remain tight-lipped about the technology but state on the company website that they’re going after a “multibillion dollar market.”
Andreessen Horowitz’s Peter Levine will join the company’s board as part of the funding. He said in a statement that the “value proposition” is the team’s “technical and operational expertise.” In a recent panel discussion, Levine stressed the firm’s continued interest in funding enterprise technology.
“If 2012 is the year of the enterprise renaissance, 2013 is the year of enterprise acceleration,” he said.
The Nashua, N.H.-based startup was founded by Paula Long and John Joseph, two former executives from EqualLogic, a storage company that Dell acquired in 2008.
Andreessen Horowitz led this funding round, with participation from existing investors Charles River Ventures and General Catalyst Partners. Andreessen is betting big on big data and has already made investments in GoodData and Continuuity.