In-Q-Tel pushes for better big data capabilities through $38M investment
- By Mark Hoover
- Mar 20, 2014
In a move to advance the big data capabilities of today’s tech organizations, In-Q-Tel and a number of other investors have raised $38 million to put toward Platfora, a Silicon Valley-based big data analytics firm.
Other members in the Tenaya Capital-led investor group include Citi Ventures, Cisco, Allegis Capital, Andreessen Horowitz, Battery Ventures and Sutter Hill Ventures.
The goal is for Platfora to lead organizations away from SQL-based business IT and into the current era of big data analytics, according to a Platfora release.
“The widespread adoption of big data infrastructure by mainstream enterprises presents a tremendous opportunity for analytics vendors. We believe Platfora’s unique intellectual property and its ability to help any company unlock new business opportunities from their data assets will resonate in the market,” said Brian Paul, Managing Director at Tenaya Capital.
Platfora has created a big data platform that can scale and handle all forms of big data, including customer interaction, transaction and machine data.
“With our big data analytics platform, we’re helping organizations participate and win in the Fact-based Economy which we estimate will unlock $5 trillion in new value in the next 10 years through novel uses of big data,” said Ben Werther, Platfora CEO.
Mark Hoover is a senior staff writer with Washington Technology. You can contact him at email@example.com, or connect with him on Twitter at @mhooverWT.