Israeli big data company Panoply has raised $5 million from C5 Capital. This expands the company's Series A financing round with previous investors including intel Capital, Blumberg Capital and 500 Startups. The new funds will support further investment in Panoply's Smart Data Warehouse for data engineers, data analysts/scientists and business end users.
The new funds will also be used for aggressive acceleration of sales, marketing and product roadmap advancement for the company’s ETL-less smart data warehouse that expedites the journey of migrating raw data to analytics using machine learning and natural language processing. The additional funding will allow Panoply to execute strategies to meet and exceed the demands of today’s big data revolution, including expanding the engineering at an exponential rate to scale with customer demand.
Founded in 2015 by CEO Yaniv Leven and Roi Avinoam, Panoply is the brainchild of their extended experience leading data management in data driven organizations. The company, which has offices in Tel Aviv and San Francisco, takes a new approach to cloud data warehousing raising it from the infrastructure level to the platform level. Panoply combines machine learning with traditional data management and storage technologies. The company’s ability to automate data warehouses and data lakes enables enterprises to focus on business concerns without having to invest enormous amounts of time and capital on expensive DevOps resources traditionally required for data management.
“Panoply has one of the most advanced and transformative platforms in the big data segment,” said Marcos Battisti, managing partner at C5 Capital. “The company’s state-of-the-art platform positions Panoply to take advantage of the growing demand for evolving data solutions that reduce development time and are adaptive to business requirements and scalability needs.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 19, 2017
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