The funding was led by venture capital firm New Enterprise Associates (NEA). New investor, Sapphire Ventures, also joins this round. Existing investors Crosslink Capital and .406 Ventures also participated. The new funds will further boost Reltio’s market momentum, and fuel engineering, sales, and marketing initiatives while enhancing the company’s global footprint and leadership in modern data management.
Reltio Cloud is the only multitenant PaaS that enables organizations to build data-driven applications with reliable master data management (MDM), relevant big data insights, and intelligent recommended actions.
“More than just financing, we bring to the table a full suite of services that are specifically designed to help expansion-stage companies scale and become global category leaders—and we believe Reltio is perfectly positioned to do just that,” said Nino Marakovic, CEO and Managing Director of Sapphire Ventures. “We are excited to work with the Reltio team and look forward to bringing our global enterprise network, capital, resources and expertise to support the growth of its market-leading data management solutions.”
Reltio is well positioned to build on its market momentum over the last 12 months including the addition of customers from leading organizations in a wide range of sectors such as technology, retail, media & entertainment, and insurance. New customers include a major car retailer, a large fast-food franchiser, one of the world’s largest specialist insurers, a well-known cosmetics manufacturer, and a global media investment group. The company’s innovation also led to continued success in the life sciences and healthcare arena—it achieved HITRUST CSF certification and signed three of the ten largest global pharmaceutical organizations, as well as one of the largest healthcare organizations in the U.S as customers.
“I’m honored to have our modern data management Platform as a Service used as the foundation for digital transformation initiatives in some of the largest companies in the world,” said Manish Sood, CEO of Reltio. “We are humbled by the continuing support of our existing investors, and are thrilled to welcome Sapphire Ventures. As ever, I’d like to thank our customers and partners for their confidence in us, and our employees who have been the force behind Reltio’s success.”
To capitalize on emerging opportunities growing across every industry, Reltio is hiring business and IT professionals in offices around the world and is set to increase headcount by 50+% in 2017 alone. The company recently announced that it has added a new office in Bengaluru, India, and brought aboard industry veteran Manish Jain as Vice President and General Manager for the region, where he will be responsible for overall India strategy and operations.