ClearStory Data Announces $9 Million Series A Investment Led by Kleiner Perkins Caufield & Byers, With Andreessen Horowitz and Google Ventures
PALO ALTO, CA — December 5, 2012 – ClearStory Data, a company delivering a new big data solution that makes it simple for business users to find, combine and interactively analyze data from corporate sources and disparate third-party sources, today announced the closing of a $9 million Series A financing round with Kleiner Perkins Caufield & Byers, and joined by previous seed round investors Andreessen Horowitz and Google Ventures. Mike Abbott, general partner at Kleiner Perkins Caufield & Byers, also joins the ClearStory Data Board of Directors.
ClearStory Data’s solution offers a new way for business users to easily discover, analyze and consume data at scale from corporate, web and premium data sources for combined and up-to-date insights. Data sources include relational databases, Hadoop, Web and social application interfaces, and third-party data providers. ClearStory Data’s platform modernizes data analysis by introducing a new user model for big data analysis. The platform simplifies access to disparate data sources, automatically manages data harmonization, and enables interactive analysis at scale. With ClearStory’s solution, organizations can easily converge data from corporate and third-party sources to make business decisions faster and across distributed teams in ways never before possible.
“We’ve seen incredibly strong demand for ClearStory Data’s solution from a wide range of industries as data-driven organizations look for new and better ways to access and combine data from corporate and third-party sources,” said Sharmila Shahani-Mulligan, CEO and Founder of ClearStory Data. “With the astounding growth in external sources of data, data marketplaces, and corporate data housed in new big data platforms, it’s time to make it a lot easier for business users to interactively explore and analyze information no matter where it comes from.”
Market research firm IDC estimates that digital data created and replicated in 2011 had surpassed 1,800 exabytes, 10 times more than just five years earlier. At the same time, external data sources today expose more than 7,000 open data APIs, up from almost zero in 2005. Making sense of all this data will drive a $16.9 billion market opportunity for big data alone by 2015, according to IDC.
“We share ClearStory Data’s vision of an enormous market opportunity for everyday business users to work with big, diverse data easily and quickly,” said Mike Abbott, general partner at Kleiner Perkins Caufield & Byers and the former Vice President of Engineering at Twitter. “We’re investing in a proven team, a market-changing platform and an opportunity that promises to disrupt, bringing big data into the hands of the true business user beyond the specialized domain of data scientists and quants.”