Reltio, a company that specializes in giving enterprises data, insights, and recommendations through its cloud-based data management platform as a service (PaaS), has raised $40 million in a Series C round of funding led by New Enterprise Associates (NEA) and Sapphire Ventures, with participation from Crosslink Capital and .406 Ventures.
Founded out of California in 2011, Reltio enables companies to “streamline” their data management to garner a more holistic view across all data sources and formats. This, in turn, allows divisions such as sales and marketing to build new data-driven applications, to predict where there may be new leads, for example, or to collaborate with each other to seize new opportunities.
In terms of the kinds of data Reltio works with, well, it can be anything from internal transaction and interaction data to public and social data. Through Reltio’s platform, companies can combine these different datasets to create new applications specific to their goals.
Prior to now, Reltio had raised $32 million, and with its latest cash injection the company says it will turbocharge its momentum and double down on its engineering, sales, and marketing programs. Indeed, plans are afoot to grow its headcount by more than 50 percent in 2017.
“Reltio has demonstrated impressive growth in the massive data management market,” said NEA general partner Chetan Puttagunta. “When the opportunity to deepen our commitment to the company arose, it was an easy decision — we invest in disruptive technologies with high market potential, and Reltio fits that description perfectly with a multi-faceted, agile platform that’s designed for speed to value, and is loved by business users.