Data Analytics Company Expands Reach with New Customers, Making Data a Part of Everyone’s Day
Menlo Park, Calif. – January 21, 2015 – Interana, the leader in event-based analytics, today announced that it has raised $20 million in Series B funding, fueled by strong market traction and customer adoption. In the first 75 days out of stealth, the company has shown impressive growth, including a strong list of new customers, proof-of-concept deployments, recognition as a Gold Winner in the prestigious CEO World Awards, and an increase of 35 percent in its impressive team. Interana will use the $20 million in Series B funding to expand its reach into enterprises through product development and go-to-market strategies. These activities will further the company’s vision of making data a part of everyone’s day with a fast, highly scalable, and easy-to-use interactive analytics solution that can answer critical business questions about how customers behave and products are used.
“This is a new form of analytics where streaming data and data at rest are analyzed together, enabling companies to reach the elusive goal of seeing how real-time snapshots fit into historical trends. Traditionally, enterprises have required separate analytic tools and data platforms to put those pieces together,” said Tony Baer, principal analyst at Ovum. “Interana’s event-based analytics solution allows companies to analyze click stream logs, feature usage, and place that in the historical perspective of how they have acted with the customer, which is a whole new way of looking at data.”
Index Ventures led the round of funding, in which new investors AME Cloud Ventures, Harris Barton and Mike Olson, chief strategy officer at Cloudera, participated. Existing investors Battery Ventures, Data Collective and Fuel Capital also participated. With this investment, Mike Volpi, general partner at Index Ventures, will join the Interana Board of Directors, which already includes Mark Leslie, former CEO, Veritas; Jeff Rothschild, vice president of engineering, Facebook; Alex Benik, partner, Battery Ventures; and advisor Mike Dauber, general partner at Amplify Partners. Volpi will bring Big Data industry insights into the company, as he sits on the board of directors for Elasticsearch and Hortonworks, which just successfully completed an IPO.
“In the era of big data, businesses are looking for ways to derive useful insights to make better business decisions. This is where Interana comes in, and it’s one of the reasons we were so interested in investing in the company,” said Volpi. “Interana provides Big Data insights to large numbers of people within an organization by making insights quicker and easier to access than ever before. We are delighted to partner with Ann, Bobby, Lior and the rest of the team, and are excited to help them continue to expand and deliver on their vision.”
IDC predicts visual data discovery tools will grow 2.5 times faster than the rest of the BI market; investing in this enabler of end-user self-service will become a requirement for all enterprises by 2018. Interana is well-suited to provide the data discovery tools enterprises will rely on, as the company offers a fundamentally different kind of analytics solution. Its unique technology stores billions of sequences of events (event data) from sources such as clickstreams, call detail records, transactions and sensor data, allowing users to ask questions and see answers in seconds. By directly interacting with data through a fast visual interface, users can perform ad-hoc queries to explore data and discover trends and patterns through features such as time series, distributions and funnels. Interana helps business decision makers and data teams identify new opportunities for growth, customer retention, product conversion and engagement in a fraction of the time it takes today.
“Empowered customers have more influence than ever before, making it more important than ever for businesses to be able to tap into and understand how those customers are behaving and using products,” said Ann Johnson, CEO of Interana. “We’ve experienced a massive demand for our solution in just a few short months, as businesses realize the power of being able to have anyone in their organization get real-time answers to business questions based on sequences of events such as clickstreams and sensor data. Interana is growing very quickly, and we see only upside as more and more customers realize the power in having these answers at their fingertips and being able to make data-informed decisions a part of everyone’s day.”
Strong Customer Traction
Interana has built broad customer adoption across a wide range of industries in just three months; customers include companies such as Asana, Orange Silicon Valley and BloomBoard. With growing demand, the company has dozens of proof-of-concepts (POCs) underway with software-as-a-service (SaaS) and online companies.
This customer adoption demonstrates strong interest from business decision makers and data teams who want to identify new opportunities for growth, customer retention, product conversion and engagement in a fraction of the time it takes them today. Recognized for its event data capabilities, Interana has the only solution capable of visually exploring billions of events in seconds, enabling users to truly understand how customers behave and products are used.
Company Growth and Innovation
Since launch, Interana has built a strong presence at key Big Data networking conferences such as Strata Conference + Hadoop World 2014 in New York. The company also achieved recognition as a Gold Winner at the prestigious CEO World Awards in the “Best New Start-Up Company of the Year” and “Best Website of the Year – IT Software” categories.
The company’s compelling vision and impressive team have also attracted additional new talent. In the past four months Interana has successfully recruited highly skilled engineers, product designers, and customer-service and sales support personnel from Datameer, Elance, Netflix, Oracle, Symantec Corporation, Wepay and ZL Technologies. Team members are given the ownership, freedom and tools to do what they do best, making Interana a great place to work.