Though it won’t market a product until 2014, DataGravity has already landed some pretty serious capital. The stealth mode startup recently raised $30 million in a round led by with existing investors Charles River Ventures and General Catalyst Partners participating. It brings the company’s total capital to $42 million.
The company specializes in big data, but is cagey on the details. It claims to turn “data into information,” likely by providing mid size companies a simpler and more affordable way to analyze and comprehend the results. Smaller companies can’t afford $150 an hour to hire data scientists with PhD’s to make sense of the massive amounts of data they are collecting. DataGravity presumes to make it simpler.
The company’s “About Us” section on its website is pretty sparse on the details of how it does that, though it does acknowledge is it targeting “a multibillion market” with a goal “to radically simplify and eliminate IT complexity and to finally make it easy to extract information from the terabytes of dormant data stored by an organization.” The company is spearheaded by the a founders of EquaLogic, including Paula Long and John Joseph.
“The story behind the news is that DataGravity has taken a major step forward in building a formidable company that will deliver unprecedented value to customers,” Long stated in an explanation of the new funding on the company’s blog. “A lot of that story has to do with bringing together the right group of people.”
The company will use the funding to launch its first product in 2014 and “make significant progress toward our goal of bringing products to market that instantly deliver value to customers,” Long stated in the blog.
As part of the funding, Andreessen Horowitz’s Peter Levine will be joining the company’s board.
“There’s a renaissance under way in enterprise computing, and DataGravity is among the pioneering companies doing the hard work of solving intractable enterprise challenges,” Levine said. “DataGravity is positioned to be in front of a potentially enormous market, and the management team’s technical and operational expertise has the experience to lead it. For me, that’s an unbeatable value proposition.