Incorta Expands Series B Round with Additional $15M Led by Microsoft’s M12 and Telstra Ventures

Total Series B funding of $30M will be used to scale go-to-market
operations

Additional financing coincides with Fall ’18 release of industry’s
first hyperconverged analytics software

SAN MATEO, Calif.–(BUSINESS WIRE)–#DataCuriosityIncorta,
the industry’s first hyperconverged analytics software company, today
announced $15 million in funding by M12, Microsoft’s venture fund
(formerly Microsoft Ventures), and Telstra Ventures. This round
coincides with the company’s Fall ’18 release, which makes the platform
horizontally scalable for any volume of data without the need for
partitioning, performance tuning or query optimization. M12 and Telstra
Ventures’ investments bring Incorta’s Series B funding to $30 million.

“Incorta’s approach to analytics fundamentally changes how quickly data
is turned into insights at massive scale,” said Rashmi Gopinath, partner
at M12. “We’ve invested in Incorta because of the amazing list of
Fortune 100 companies that have bet big by deploying Incorta technology
in their most strategic data initiatives. We’re excited to be part of
the journey of scaling the Incorta business.”

“We are very impressed with Incorta’s tremendous traction across marquee
customers spanning a broad variety of industries. The engine query
performance against large data sets is something we have never seen in
production before,” said Saad Siddiqui, Venture Investor at Telstra
Ventures. “We’ve invested in Incorta to further fuel their growth and
augment it with their expansion in the Asia Pacific markets.”

Global market intelligence firm IDC expects the data warehousing market
to grow 40 percent to $20 billion in 2020, and that the overall big data
and analytics market to top $200 billion the same year. Incorta has a
real opportunity to capture a large share of this market by solving the
real pain points that currently exist in the industry.

Traditional data warehousing often attempts to simplify vast complexity
by designing complex star schemas and building extract, transform, and
load ETL pipelines to reshape source data – process that can be
cumbersome, costly and brittle. Incorta streamlines this process by
eliminating the need for complex data modeling and unnecessary parts of
ETL. Unlike other integrated analytics offerings, Incorta can ingest,
store and analyze hundreds of billions of complex business records that
require hundreds of joins — all within seconds.

“Our users are consistently blown away by how fast they’re getting the
information they need,” said Ajit Oak, Broadcom senior manager of
business intelligence. “It used to take 8 to 12 weeks to get a report
from request to production. With Incorta, IT can deliver on new report
requests in hours. Business users can have real-time conversations with
data, without having to re-engage with IT for every new question.”

“Business agility is severely hamstrung when queries take hours to
respond despite running the analytical and reporting applications on
very expensive and highly-engineered appliances. Within weeks, our
customers are able to replace these appliances with the Incorta platform
that scales horizontally on commodity hardware, on-premises or in the
cloud, while delivering orders of magnitude faster query response
times,” said Incorta CEO Osama Elkady. “M12’s investment helps us scale
our go-to-market, especially with our upcoming product release, Fall
‘18.”

The Fall ‘18 Incorta release offers an unparalleled boost to business
and IT productivity. Entire data sets are ingested in Incorta in
their original shape and form
, giving analysts and executives the
ability to easily zoom in and out of information detail while
maintaining 100 percent data fidelity.

In addition, the Fall ’18 release:

Speeds IT’s ability to deliver new reports in minutes by

  • Ingesting entire schemas and eliminating the need for data model
    design and the unnecessary parts of ETL.
  • Running hundreds of joins against the most complex data sets without
    having to flatten them.

Strengthens businesses’ ability to feed their data curiosity by

  • Delivering real-time answers to successive questions without the need
    for IT involvement.
  • Bypassing errors that can crop up during complex data transformations,
    boosting data confidence.

Accelerates data science initiatives by

  • Enabling data scientists to access business data quickly via built-in
    PySpark.
  • Eliminating multiple data copies and redundant ML and AI stacks.

Unfetters data access with built-in security by

  • Inheriting and enforcing source row-level security privileges, paring
    privacy and security issues while rolling out new applications.
  • Avoiding the need to create new security buckets for every additional
    data pre-aggregation.

Maximizes ROI and lowers TCO by

  • Dramatically paring down the legacy data warehousing value chain,
    including modeling and ETL.
  • Easily augmenting existing data warehousing investments while
    dramatically speeding time-to-insight.

About Incorta

Incorta delivers the industry’s first hyperconverged analytics software
platform that dramatically speeds up insights by paring down the
unnecessary parts of data modeling and extract-transform-load (ETL) that
are costly, cumbersome, and brittle and hold data-driven businesses
hostage. With Incorta, IT can deliver new reports within minutes as
opposed to weeks, and business can feed data curiosity by conducting
real-time conversations with their data to make more accurate and timely
decisions. Backed by GV (formerly Google Ventures), Kleiner Perkins, M12
(formerly Microsoft Ventures) and Telstra Ventures, Incorta is deployed
and powers analytics for some of the world’s largest and fastest-growing
companies.

To learn the fastest way to what matters, visit incorta.com.

About M12

As the corporate venture arm for Microsoft, M12 (formerly Microsoft
Ventures) invests in enterprise software companies in the Series A
through C funding stage. As part of its value-add to portfolio
companies, M12 offers unique access to strategic go-to-market resources
and relationships globally. Visit m12.vc
to learn more.

About Telstra Ventures

Telstra Ventures is a strategic venture capital firm that is focused on
providing synergy revenues to its portfolio companies and financial
returns to its limited partners. Telstra Ventures invests in market
leading, high growth technology companies with exceptional products and
leaders. Telstra Ventures is backed by two strategic LPs: Telstra, one
of the 20 largest telecommunications providers globally, and
HarbourVest, one of the world’s largest private equity funds. With
offices in San Francisco, Sydney, Melbourne and Shanghai, Telstra
Ventures has invested in over 50 companies since its inception in 2011.
Visit telstraventures.com
to learn more.

Contacts

Incorta
Laura Farrell
laura.farrell@incorta.com

leverton

I have been involved with publishing and marketing for the past 32 years. My passion is helping people share their voice. I am able to do this through two important venues: One, with Area-Info.net where people can share everything from opinions to events to news. It is your choice! What do you want to share? Two, through a new program called America's Real Deal I am involved with to help business owners get their voice heard.I schedule speaking engagements with community groups and business groups to share my passion about the importance of "sharing your voice".Contact me directly at lee@leeeverton.coom for scheduling information.