Platfora: Keeps the Momentum Going as It Hits $95 Million Total Investment
Platfora; a company for Big Data Analytics operates its business by helping websites reach to the level of their visitor’s understanding by processing the site’s data so it would make sense to anyone who reads it. And as it gathered $95 million total amount of investment, it is ready to hit the market and expand to other places in the world. It has already started to open a satellite office in London and Europe will be next in line. Eventually, they hope to reach Asia too.
The money came from the company’s fresh participants namely Harmony Partners and HSBC. The contribution from old funders such ask Andreessen Horowitz, Allegis Capital, Battery Ventures, Cisco, Citi Ventures, Tenaya Capital and Sutter Hill Ventures are also included. Prior to the contribution made by the new investors, Platfora has already received 38 Million last March 2014, totaling to $95 million as to date.
“I am delighted by the investment made by HSBC which is same as Cisco and Citi”, said Jason Zintak; Platfora’s CEO. “Indeed they have paved the way to improve and enhance our product, something that venture capitalists can’t provide when all by themselves”, he added.
Platfora is meant to work with huge data. This is termed as petabyte (or even larger) as per Zintak. Platforms employed include Hadoop, Amazon Web Services and Microsoft Azure. With the help of Platfora, business analysts can easily understand different data sets without the need of the assistance of an IT or data scientists.
Platfora works on three levels. First, it prepares the data, ready for analysis. Second, it processes the information using a memory database. And third, it offers visualization layer that can be used by business analysts and other visitors who want to have a more meaningful reading experience.
In Platfora, the IT will set the platform and after which, users can explore the data with the data preparation as well as information processing occurring in the background while analysts points to various sources to come up with a set of data that they want to work on. As soon as the process is completed, they can check the data in many ways. It can be through graph, charts and other similar representations.
Currently Platfora is working with 150 employees. But Zintak hopes to add more and plans to add additional 100 workers in the next 12 months. With this plan, they predict a 100% increased revenue and 100% additional customers. Indeed Platfora manages to keep its momentum and hopes to do more in the years to come.