Incorta, which provides software to analyze data in real time, today announced that it has secured an additional $15 million in funding. Kleiner Perkins Caufield & Byers led the round, with participation from existing investors GV and Ron Wohl, Oracle’s former executive vice president. This new round of funding comes on the heels of a $10 million investment announced last March.
The San Mateo, California-based startup provides an analytics platform that enables real-time aggregation of large, complex sets of business data, such as for enterprise resource planning (ERP), eliminating the need to painstakingly prepare the data for analysis.
“With Incorta, there is no additional need to put data into a traditional data warehouse ahead of time,” wrote Incorta cofounder and CEO Osama Elkady, in an email to VentureBeat. “This reduces the time to build analytic applications from months to days.”
The startup claims that over the past year it has increased revenue more than 300 times and signed new customers, including Shutterfly.
“Incorta customers who used Exadata or Netezza appliances, or data engines like Redshift or Vertica, enjoyed performance gains of 50 to 100 times when they switched to Incorta, even on the most complex requests,” wrote Elkady.
The enterprise offering is licensed as an annual subscription on a per user basis and can be deployed on Google Cloud, Microsoft Azure, and Amazon Web Services (AWS). The startup is in talks with other cloud providers, according to Elkady.
Today’s fresh injection of capital will be used to further product development and increase sales and marketing. “It will also enable us to more quickly realize our vision for a third-party marketplace where vendors and content providers can build and distribute applications powered by Incorta’s platform,” wrote Elkady.
Founded in 2014, Incorta has raised a total of $27.5 million to date and currently has 70 employees.
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