Mode Analytics, the California-based analytics company has picked up $33 million in Series D financing led by H.I.G. Growth Partners. The investment round also saw participation from Valor Equity Partners, Foundation Capital, REV Venture Partners, and Switch Ventures.
In the previous funding, the firm had bagged $23 million in Series C round which was led by Valor Equity Partners. The current investment takes the total amount raised by the firm to close to $80 million, as per Crunchbase.
Founded in 2013 by Benn Stancil, Derek Steer, and Josh Ferguson, Mode offers online service for collaboratively analyzing data. It uses the best elements of Analytics and Business Intelligence (ABI), Data Science (DS), and Machine Learning (ML) in order to help the data scientists work together across the business function. The firm counts big players like Anheuser Busch, Zillow, Lyft, Bloomberg, Capital One, VMWare, and Conde Nast among its customers.
H.I.G. Growth Partners' managing director Scott Hilleboe through a statement said that “Mode goes beyond traditional Business Intelligence by making data faster, more flexible and more customized. The Mode data platform speeds up answers to complex business problems and makes the process more collaborative so that everyone can build on the work of data analysts. We believe the company’s innovations in data analytics uniquely position it to take the lead in the Decision Science marketplace.”
It will be interesting to see how the firm utilizes the funding from this round to grow and get more clients aboard.
Image courtesy: Mode