Reltio scored $10m, which will be used to expand its sales and marketing efforts
Reltio, a startup founded by Informatica veterans, has secured $10m in its first round of funding and announced the launch of its cloud-based data management platform.
Much like the integration element Informatica specialises in, Reltio is pitching its services at those that don’t necessarily want to acquire and set up all of the front-end and back-end big data tools in piecemeal, siloed fashion, but instead want an integrated platform that can query, analyses and display multiple data types.
The company said its data management platform is designed for those accustomed to using services like Facebook or Linkedin, but within traditionally data-intense industries like healthcare and life sciences, oil and gas, retail and distribution.
“Data is the new natural resource, but it’s truly valuable only when it’s effectively mined, related and transformed into insight with business actions that can be taken within the context of day-to-day operations,” said Manish Sood, founder and chief executive officer of Reltio.
“With Reltio, data is collated and analysed for actionable intelligence with the speed needed to support innovation and spark new revenue streams. IT gets a modern data management platform while business users get easy to use data-driven applications to address their everyday needs,” Sood said.
The company was founded largely by Informatica data management specialists: Sood led product strategy for master data management at Informatica; Anastasia Zamyshlyaeva, chief architect for Reltio, helped design the core components of Informatica’s MDM offering; Curt Pearlman, vice president of solutions, previously held positions in sales consulting with Informatica, as did Bob More, Reltio’s senior vice president of sales.
Reltio is throwing its hat into an increasingly competitive but lucrative ring. Analyst firm IDC estimates spending on big data and analytics will reach $125bn in 2015, with Database-as-a-Service growing in importance as cloud and commercial vendors open up their data sets.