Incorta, the startup that wants to make big data analytics faster by eliminating the need for data warehouses, has raised a $15 million Series B led by new investor Kleiner Perkins. Existing investors GV and Ron Wohl, former executive vice president of applications development at Oracle, also participated.
This takes Incorta’s total funding to $25 million, including a $10 million Series A led by GV in May 2016. Incorta also announced that Kleiner Perkins general partner Ted Schlein will join its board.
Instead of relying on data warehouses to gather and prepare data for analysis, Incorta’s Direct Data Mapping engine maps data directly from sources like enterprise software and other applications. This means it has the ability to provide insights for massive amounts of data in near real-time (Incorta claims it can reduce response times from hours to seconds). Incorta’s customers currently include semiconductor company Broadcom and e-commerce companies like StitchFix and Toast.
Co-founder and chief executive officer Osama Elkady tells TechCrunch that Incorta will use its new funding to accelerate product development and expand its sales operation, particularly in international markets.
He adds that new features in the pipeline will allow customers and Incorta’s partners to collaborate on the company’s cloud marketplace, allowing them to build and publish vertical applications and advanced AI modules.
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