Fueled by strong market traction and customer adoption, Interana, an industry leader in event-based data analytics, announced $20 million in Series B funding on Jan. 21.
The company has been growing rapidly over the first 75 days of stealth proof-of-concept deployments and being named the Gold Winner in the CEO World Awards. It also saw its team grow by 35 percent over that span.
Interana will use the funding to expand into product development and go-to-market strategies.
This is all in effort to further the company’s goals of having a fast, scalable and easy-to-use interactive analytics solution.
“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,” Tony Baer, principal analyst from Ovum said.
“Interana’s event-based analytics solution allows companies to analyze click stream logs [and] 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,” he said.
Index ventures led the funding with executives from new investor AME Cloudera, as well as existing partners such as Battery Ventures, Data Collective and Fuel Capital.
With the investment, Mike Volpi, general partner at Index Ventures, will join the Interana board of directors and bring big data insights to the company.
“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,” Volpi said.
Visual data discovery tools are expected to grow 2.5 times faster than the rest of the BI market according IDC. IDC also predicts investing in end-user self-service enablers will become a requirement by 2018.
