Reltio Raises $22 Million

 

REDWOOD SHORES — Reltio, which offers enterprise data-driven applications and modern data management Platform as a Service (PaaS) company, has raised $22 million in Series B funding.

Leading the oversubscribed round is New Enterprise Associates (NEA). Existing investors, Crosslink Capital and .406 Ventures added to their $10 million Series A investment, bringing Reltio’s total venture funding to $32 million to date. The new financing will be used to extend Reltio’s leadership position in modern data management through accelerated hiring of talented individuals across all groups, and continued expansion into global markets.

“Reltio’s growth in the multi-billion dollar data management market has been truly impressive,” said Chetan Puttagunta, Partner at NEA. “NEA looks to invest in disruptive technologies with large market potential and Reltio has solved an age old conundrum by bringing IT and business teams together, on a multifaceted, agile platform designed for CIOs, powering data-driven applications loved by business users. We’re particularly excited to join a team that is so passionate about guaranteeing reliable data, as it’s undeniably the foundation for data-driven insight and action.”

Jim Feuille, general partner at Crosslink Capital, who saw Reltio’s potential early, remarked: “Reltio is changing the enterprise software landscape with customers and partners gaining first-mover advantage by managing of all types of data at scale, while accelerating business time-to-value. We invested in Reltio’s vision to marry cloud master data management, big data transactions and interactions, predictive analytics and machine learning, to ultimately enable the next wave of data-driven applications, and Reltio continues to deliver the innovation normally associated with multiple startups.”