Incorta has announced successfully concluding its Series D funding round, raising $120M to help the company expand its go-to-market operations and meet the increasing global demand for its game-changing data analytics software.
The latest Incorta Series D Funding was led by growth equity firm Prysm Capital, together with the company's existing investors GV (formerly known as Google Ventures), Kleiner Perkins, M12 (formerly known as Microsoft Ventures), Telstra Ventures, Sorenson Capital, and Ron Wohl, as well as one Silicon Valley Bank credit facility. In the latest round, new investor and strategic partner National Grid Ventures also extended its support - a move that is expected to boost Incorta's entry into the energy industry.
Since it was founded in 2014, the data analytics leader has raised a total of $195 million in total funding, which will be used to accelerate the company's capabilities to meet the growing demand for its solutions.
A Testament to the Importance of Data Analytics
In a company press release, Incorta CEO Scott Jones said that the unprecedented events from the last year only highlight the need for modern data analytics solutions in the global business environment. This includes tools like Incorta, which delivers data directly to its users without the need for costly systems and infrastructures like data warehouses and ETL processes that come at a cost to speed and agility.
"After hitting a major inflection point in 2020, Incorta is now scaling fast to meet global demand for modern data analytics in the cloud. This funding enables us to scale up while staying true to Incorta's DNA and maintaining our best-in-class innovation, quality and customer obsession," Jones added. "We are also thrilled to welcome Prysm and National Grid to the Incorta family, joining our already world-class investors."
Incorta's Unstoppable Growth
The recent Series D funding success comes at a time of the company's breakout growth and expansion, with its major milestones including:
- Rapid revenue growth that is driven by both its existing and new customers. About 60% of its net revenue growth for the last year came from organic expansion with existing customers, 14 percent of which are Fortune 500 companies from different fields such as media, entertainment, technology, and retail.
- Strategic industry partnerships and product innovation, including those with industry leaders Microsoft Azure, Google Cloud, eCapital, and Tableau. Additionally, Incorta strengthened its position and expanded its reach with the Incorta Mobile - allowing unified data analytics straight from smartphones and tablets. In recognition of its drive to innovate, Incorta was recognized as the Microsoft Startup Partner of the Year last 2020.
- Recognition from the 2021 Gartner "Cool Vendors'' report in the fields of Analytics and Data Science. The inclusion comes as the data analytics developer proved itself as an organization that can "achieve broader analytics capabilities in a self-service manner.
- Broad industry recognition for its game-changing unified data analytics platform and Direct Data Mapping Technology, receiving recognition from industry research groups.
- Key executive leadership hires for 2021 alone: CEO Scott Jones, CCO Greg Peters, CRO Darryl Bank, and SVP of People Sheri Kelleher.
- A rapidly growing global footprint with its partners and offices strategically positioned throughout North America, the Middle East, the UK, and in Japan.
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Published on Tech Times.
