SAN MATEO – Incorta, which operates a real-time analytics platform, has raised an additional $15 million in funding led by new investor Kleiner Perkins. Existing investors, including GV (previously Google Ventures) and former Oracle Executive Vice President Ron Wohl also participated in the round. GV led Incorta’s $10 million Series A round in May 2016.
In addition to the investment, Kleiner Perkins General Partner Ted Schlein will join Incorta’s board of directors.
“We invested in Incorta because its advanced platform delivers true ‘information freedom’ to business users, at a low total cost of ownership to the business at-large,” said Schlein. “Some of today’s fastest-growing companies, driven by Incorta’s no-data-warehouse approach to analytics, have fundamentally changed how business information travels and how work gets done.”
Incorta’s enterprise analytics platform aggregates complex business data in real-time, bypassing the need for a traditional data warehouse.
Rather than the traditional model of performing slow and expensive extract, transform, load (ETL) projects to combine data from different data sources, Incorta’s Direct Data Mapping engine — an industry first — instead combines large, complex business data in real time. Since data maps directly to source data regardless of its form or structure, Incorta’s approach enables the development of highly secured, real-time analytic applications in only days, and reduces query times from hours to seconds — even at massive scale. With Direct Data Mapping, business users gain easy, secure, sub-second access to meaningful business insight.
“We’re very pleased to welcome to the Incorta family Kleiner Perkins, one of the top VCs in Silicon Valley, and Ted himself — a highly respected, experienced technologist,” said Osama Elkady, co-founder and chief executive officer of Incorta. “The response to our Direct Data Mapping technology launched in March far exceeds our initial expectations. We’re signing new customers at a record rate, while existing Fortune 500 customers are expanding their implementations and re-signing seven-figure contracts with us.”
Elkady continued, “The market opportunity for Incorta is now. This funding will help us boost our investments in product development, sales, and marketing to bring Direct Data Mapping to more businesses around the world at a faster rate.”