• Venture Capital
  • Experfy Editor
  • MAY 28, 2014

Latest Big Data Funding Rounds (May 28, 2014): Context Relevant, Tamr, Sumo Logic, Data Pad, Apixio

Context Relevant Inc., a data-science automation startup, raised $21 million in a funding round led by Formation 8, a San Francisco-based firm—with participation from Bloomberg Beta, Madrona Venture Group, and Vulcan Capital.  Other investors in this company are an unnamed bank and an unnamed insurance agency. Several Seattle-area angel investors also participated, as reported by Wall Street Journal Venture Capital Dispatch.

This funding round brings the company’s total funding to $28 million. Context Relevant just opened an office in the neighborhood of Wall Street, and plans to utilize the acquired funds in a hiring spree. Data scientists are in short supply, but there is a high demand for big-data analytics work; so this startup is expanding at the right time. As there is no dearth of opportunity in the field of big data analytics, the company may think of expanding beyond “its core markets.”

Content Relevant’s Founder and Chief Executive Stephen Purpura, a former Big Data consultant and ex-Microsoft employee, remarked he “handpicked [Formation 8] as the lead to signal to the market the level of confidence we have in our technology.” With a background in statistics and machine learning, Mr. Purpura brings deep expertise in “predictive analytics applications” for the financial services and insurance industries.

In the early days of the company, Context Relevant completed projects for free to prove its value to customers. Context Relevant has been fortunate enough to be free of any direct competition, although companies like Palantir or Mu Sigma Inc. offer predictive analytics-related services.

Tamr Inc., the Cambridge-based big-data start-up, raised $16 million in capital funding.  This funding round was led by Google Ventures, with participation from  Maryland-based venture capital firm New Enterprise Associates. As part of its new funding initiative, the startup acquired two new board members: Rich Miner, Co-Founder of Android and Head of Google Ventures’ East Coast investment team,  and Peter Barris, Managing General Partner of New Enterprise Associates. Tamr Inc’s business expertise lies in applying advanced machine learning and algorithms to analyze and unleash the intelligence of business data.

Tamr’s groundbreaking research on advanced data curation methods germinated in research labs of MIT, Brown University and Qatar Computing Research Institute. The company’s proprietary technology offers advanced curation for enterprise data that drives successful consumer Internet companies. In early customer tests, According to a news release, “Tamr was able to connect, curate and prepare enterprise data in days or weeks.”

Sumo Logic, the California-based machine data analytics company, has raised $30 million in capital funding, according to Red Herring funding news. This funding round was led by Sequoia Capital. Greylock Partners, Sutter Hill Ventures and Accel Partners also joined the round. The company previously raised $50.5 million, brining the total funding acquisition of this company to $80.5 million. Sumo Logic plans to utilize the acquired funds for international expansion into the EMEA and Asia Pacific regions. A press release by the company states that machine data is expected to grow about 15 times by 2020; and the company currently enjoys YOY customer growth of over 200 percent. 

DataPad raised $1.7 million in seed funding, according to PE HUB. The investors included Accel Partners, Google Ventures, a 16z Seed Fund, SV Angel and Ludlow Venturesand angel investors including Jeff Hammerbacher, Tom Pinckney, and Waikit Lau.

Based out of San Francisco, DataPad, a developer of next-generation data discovery for teams, came out of stealth to announce its new data visualization and collaboration tool. The company will unveil its technology at DataBeat 2014 event in San Francisco. DataPad managed to attract interested users—primarily via word of mouth publicity by its alpha testers.

Says CEO Wes McKinney

“We’ve been building toward the vision of a fully-integrated, cloud-based data solution that gives non-technical people in any business, small or large, dramatically simplified access to data. Others announce funding like its news; we are announcing what we’ve done with our money. So starting at DataBeat, people who want to know what we’re up to can join our expanded beta and see for themselves.”

DataPad creates solutions for users who either had to depend on their own, home-grown solutions or has to invest in high-end systems. This company’s products democratize (customer) data through the use of visual exploration and easy point-and-click analytics. Market research firm Pringle & Company has DataPad as a key driver of business intelligence market growth in the coming years.

Apixio raised $13.5 Million in a million Series C funding round led by Bain Capital Ventures. Apixio provides risk assessment solutions to healthcare plan providers. Its technology promises more accurate risk scores and reimbursement values. Since its inception in 2009, Apixio has raised a total of over $20 million. The company plans to use the new funds to develop sales and operations functions.

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