Datacoral, a California based startup that helps clients plan their data infrastructure has just announced that it has secured a Series A round investment where it has raised $10 million capital. The fresh investment was led by Madrona Venture Group. Social Capital, the seed investor in the firm which infused $4 million last year also participated in the latest financing.
Started in 2016 by Raghotham Murthy, the firm plans to use the fresh funding to grow their business as well as the engineering team. With the growth in the business team, Datacoral plans to get more customers on board, using the platform.
In the announcement, the firm also unveiled a private and secure end-to-end data infrastructure service for companies. Talking about the firm Murthy, the CEO of Datacoral who earlier had an stint as an Engineer with social media giant Facebook said, "As companies look to their data to deliver value – data practitioners are finding that configuring and managing their own data infrastructure is a time-consuming job that is expensive and fraught with errors."
Talking further about the platform being private and secure Murthy added, “We have built a platform that easily and automatically brings together data from different applications and databases, organizes that data in any query engine and acts on insights that are critical to running their business. A crucial component is that it works securely and privately within the customer’s cloud, instead of us ingesting data from their systems.”
The firm counts the likes of Greenhouse, Front, Ezetap, Swing Education, mPharma and Mason Finance as their customers. Madrona Venture Group's Sudip Chakrabarti commenting on the deal said, "Raghu and his team are uniquely suited to build such a system and have already seen incredible success. We are very excited to work with the team."
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