SlamData Secures $6.7MM Series A to Support Modern Data in the Enterprise
SlamData Inc., the leading open source analytics company for modern unstructured data today announced that it has raised a $6.7M Series A funding round, led by Shasta Ventures.
Boulder, Colo., February 23, 2017 – SlamData Inc., the leading open source analytics company for modern unstructured data today announced that it has raised a $6.7M Series A funding round, led by Shasta Ventures. The investment will drive further development of the firm’s breakthrough analytics solution: a single application for natively exploring, visualizing and embedding analytics against unstructured data sources including NoSQL, Hadoop, and cloud API’s.
“The BI industry has failed to help enterprises deal with the data complexity that’s spiraling out of control,” said Jeff Carr, CEO and co-Founder of SlamData. “SlamData has grown quickly by helping enterprises gain immediate insight into their businesses. Our customers are eliminating up to 80% of the time and costs related to the traditional way of doing business intelligence such as ETL, mapping, and data warehouses, datamarts and other forms of data prep.”
SlamData launched its open source solution in 2014, supporting MongoDB. Since then the company has added support for Couchbase, Marklogic, and Spark/Hadoop. SlamData uses a SQL dialect as a standard across all of its supported data sources, offering radical simplicity to companies that utilize numerous database technologies.
According to Carr, the new funding round will support the expansion of its executive team, starting with Sreeni Iyer who is joining the company as senior vice president of Engineering and will lead the development of the SlamData platform. Previously Iyer was formerly CTO/CIO and co-Founder of Quad Analytix. He also served as director of WorldWide Solutions at Terracotta and the director of Platform Infrastructure Engineering at Shutterfly. Most recently, he was the Entrepreneur in Residence at Shasta Ventures.
“SlamData is an enterprise game-changer. They are the first company that lets you write once to any kind of data source – transforming how today’s businesses can quickly explore, analyze and derive value from their ever-increasing data sources.” said Nitin Chopra, Principal at Shasta Ventures. “We’re thrilled to support Jeff and his team as they execute on their vision to help businesses make sense of today’s modern fragmented data.”
SlamData’s roadmap includes new user interface (UI) features and new data sources featuring real-time and streaming analytics, integration with machine learning providers, RDBMS integration (including RedShift, Oracle, and SQL Server), distributed joins, and richer, high-density interactive data visualizations.
About Shasta Ventures
Shasta Ventures is a leading early-stage venture capital firm partnering with bold creative entrepreneurs who are passionate about building great products and amazing experiences. Founded in 2004, Shasta Ventures has funded more than 100 companies specializing in consumer technology, enterprise software and emerging platforms including Apptio, Dollar Shave Club, Mint, Nest and many promising private companies such as Anaplan, Eero, Glint, Lucidworks, Lightbend, Nextdoor, Smule, Turo, Zuora and more. The firm is based in Menlo Park and San Francisco, California.
Find out more at www.shastaventures.com, or follow us on Twitter at @shasta
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