Incorta Announces $15 Million in Funding from Venture Capital Firm Kleiner Perkins
High demand for no-data-warehouse approach to enterprise analytics drives need for global market expansion
SAN MATEO, Calif. — Sept. 19, 2017 — Incorta, the real-time analytics platform that makes the traditional data warehouse obsolete, today announced 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 in May 2016.
In addition to the investment round, 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.”
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 MappingTM 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.”
Incorta’s enterprise analytics platform aggregates complex business data in real-time, bypassing the need for a traditional data warehouse. Powered by the industry’s first Direct Data MappingTM engine, Incorta provides unprecedented query performance and eliminates costly join operations altogether. Incorta reduces from months to days the time required to roll out new analytics applications, and reduces query and reporting times from hours to seconds. Backed by GV and Kleiner Perkins, Incorta is deployed in many of the top Fortune 500 companies.
To learn the fastest way to what matters, visit www.incorta.com or join the conversation on Twitter @incorta.
About Kleiner Perkins
Kleiner Perkins partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. With $10 billion raised through 20 venture funds and four growth funds, the firm has invested in over 850 companies including pioneers such as Google, App Dynamics, Amazon, Flexus Biosciences, Nest, Waze, Twitter, JD.com and Square. Kleiner Perkins offers entrepreneurs years of operating experience, puts them at the center of an influential network and accelerates their companies from success to significance. For more information, visit http://www.kpcb.com and follow us @kpcb.