Israeli big data startup Alooma has close a $11.2 million Series A financing round led by Lightspeed Venture Partners and Sequoia Capital, which also invested in the company's seed round. Alooma, which provides a modern ETL platform for data engineers and scientists, has raised a total of $15 million to date. Based in Tel Aviv, Alooma will use the funding to expand its sales and marketing team in the San Francisco Bay Area and to continue to strengthen its product.
Alooma observes that more and more companies today are maturing out of basic “out-of-the-box” analytics tools as they try to leverage all of their data - from web and mobile applications to NoSql and relational databases to log files, 3rd party SaaS vendors and more. But building an integrated data platform internally is a complex challenge that requires hiring data scientists and data engineers, spending huge amounts of money and many tedious hours capturing, transforming and validating the data.
Alooma CEO Yoni Broyde says, “There is no ‘one solution to fit them all’ in the data market and sooner rather than later, companies realize that their in-house data projects are difficult to manage, impose new risks and significantly hinder their ability to move fast as a business. We enable companies to easily connect all of their data together and make it accessible, usable and valuable to everyone in the organization”.
Alooma enables companies to build and run their own data platform as a service, greatly reducing the time and cost required to leverage disparate sources of data. Companies can act upon all of their data and gain unprecedented decision-making capabilities. Set up in minutes, Alooma lets companies connect all their data sources to their own AWS Redshift or other data warehouse and use Alooma’s Code Engine to clean, transform or enrich any event--all in real time.
One of Alooma's customer success stories, Invoice2Go has grown to handle hundreds of thousands of customers. To continue their growth, Invoice2Go leverages over 15 channel partners in their marketing efforts. However, understanding which partners are most effective requires gaining access to partner data--which is owned and managed by each respective partner leading to more than 40 unique data structures. Using Alooma, Invoice2Go is able to ingest the various types of data formats each partner provides without having to write a custom solution for new sources. “Alooma has improved our business by enabling us to move every piece of data into our Amazon Redshift and allow it to be joined with the rest of our core data,” said Bob Briski, Director of Data Infrastructure, Invoice2Go. “These are problems that are hard to solve and usually need a custom solution, but there’s nothing out there right that can do it, especially at the level that Alooma does it.”
Published by Globes [online], Israel business news - www.globes-online.com - on March 14, 2016
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