– USA, CA – Incorta, the real-time analytics platform that makes the traditional data warehouse obsolete, announced today it has completed a $10 million Series A round of financing. GV (formerly Google Ventures) led the investment round. Incorta additionally unveiled its Direct Data Mapping Engine which rethinks how data is stored and accessed. Rather than the traditional model of performing expensive and slow joins to combine data from different data sets, Incorta’s analytics engine maps directly from each piece of data to all its related data thereby completely removing the need for costly join operations. Even at massive scale, this reduces query times from hours to seconds to enable real-time analysis. Since data is directly mapped to its related data regardless of its form or structure, there’s no need to transform it into traditional normalized structures. This bypasses the need to build a data warehouse and enables companies to reduce the time required to develop highly secure, real-time analytic applications from months to days.
The Series A financing comes as Incorta’s innovative analytics platform is deployed across an increasing base of customers. Established enterprises as well as fast-growth startups — such as Broadcom, Henkel, Stitch Fix, Toast and a Fortune 10 manufacturing company — rely on Incorta to speed their analytics application development and obtain real-time insight from their business data. The new funding will help the company grow its sales and marketing efforts and broaden and accelerate its product development. GV general partner Karim Faris and private investor Ron Wohl have joined Incorta’s Board of Directors.
“Legacy analytics tools often fail to keep up with the pace of data complexity, which is a huge problem within the enterprise,” said Karim Faris, GV general partner. “Incorta makes it easy for companies to interact with large, complex datasets across all operational systems, and to visualize results in a way that helps them manage their business. The team has deep experience in this area, with a track record of helping the world’s largest businesses.”
Incorta speeds analytics in ways never before possible. It eliminates the need to reshape data into analytical formats. And with the first Direct Data Mapping architecture, Incorta delivers unprecedented performance — there is no need for star schemas or flattening of data.
“We have billions of records in our databases so it is not an insignificant challenge to analyze this information,” said Alan Davidson, Director, IT Infrastructure at Broadcom. “What really came through with Incorta was its simplicity to ingest large volumes of data and get to analytical insight quickly. Our business users today now have the flexibility to do what-if analysis, slice and dice information and understand trends from data all on their own.”
“Incorta is forcing enterprises to re-think the way they approach analytics,” said Osama Elkady, chief executive officer and co-founder of Incorta. “For decades, the accepted wisdom has been that a data warehouse is required to make complex business data ready for analysis. That’s no longer true. Incorta eliminates this costly, time-consuming step and offers a more simple, secure — and vastly faster — approach. GV’s funding gives us the resources we need to scale and introduce our new approach to analytics to the world’s businesses.”
Incorta’s enterprise analytics platform aggregates complex business data in real-time, bypassing the need for a traditional data warehouse. Leveraging the industry’s first Direct Data Mapping Engine, Incorta provides unprecedented query performance and eliminates costly join operations all together. Incorta reduces from months to days the time required to roll out new analytics applications, and reduces query and reporting times from hours to seconds. Backed by GV (formerly Google Ventures), Incorta is deployed in the Fortune 10 and powers the analytics for some of the world’s largest and quickest growing companies.
For more information, visit www.incorta.com
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