NEA leads $40M round into data processing startup Reltio
The typical enterprise collects data from multiple sources as part of its analytics efforts, but they’re often handled separately, which can make it difficult to see the big picture. Reltio Inc. has spent the past six years working to change that.
The Redwood Shores, California-based startup is shifting its efforts into high gear today with the help of a $40 million cash infusion from New Enterprise Associates, Sapphire Ventures, Crosslink Capital and .406 Ventures. Reltio’s plans revolve around its namesake data processing service, Reltio Cloud, which provides an environment where analytics teams can combine disparate information troves into a more useful whole.
The platform packs an extensive set of features to help with the task. Reltio Cloud provides several ways of importing data to help companies easily tap into their various systems, while a built-in marketplace makes it possible to augment internal records with third party information. A software firm, for instance, could infuse details from leads’ social media profiles into its prospect database to help salespeople fine-tune their emails.
Information prepared in Reltio Cloud can be employed to create custom applications or turned into graphs using a native visualization dashboard. The console lends itself to plotting the relationships between different data points, monitoring how a particular business metric changes over time and a wide variety of other number-crunching tasks.
Reltio’s value proposition is attracting a great deal of market interest, with the startup claiming to have clients in segments as diverse as, retail, media, insurance and the healthcare sector. It plans on using the funds from today’s investment to expand into yet more areas, an effort that will involve a major hiring spree. Reltio expects a 50 percent headcount increase by the end of the year.
The startup has raised $72 million in funding to date.
Image: Reltio
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