Software developed in Boulder that lets users analyze data without knowing a lick of code has attracted funding from Silicon Valley venture capitalists.
SlamData, which launched its open-source product in 2014, said Wednesday that it raised $6.7 million in a Series A round led by Shasta Ventures, a Menlo Park firm noted for being an early investor in connected-thermostat Nest Labs. Its investment in SlamData is the firm's first in Colorado in more than 10 years.
"SlamData is an enterprise game changer. They are the first company that lets you write once to any kind of data source — transforming how today's businesses can quickly explore, analyze and derive value from their ever-increasing data sources," Nitin Chopra, principal at Shasta Ventures, said in a statement.
The software offers one program for users to explore and analyze unstructured data sources from NoSQL, Hadoop and cloud APIs. Previously, programmers had to build their own software to analyze data from multiple sources.
The new funding, which brings the company's total to $10.3 million raised since 2015, will be used to double staff to 30 employees, said Jeff Carr, SlamData's co-founder and CEO. One recent hire is Sreeni Iyer, previously at retail-intelligence firm Quad Analytix. Iyer, who is senior vice president of engineering, will be based in Silicon Valley and head up the new office there. SlamData also has an office in the United Kingdom.
Existing investors True Ventures, also from the Bay Area, and Access Venture Partners in Westminster also participated in the round.
Source: This article was curated from the original written by TAMARA CHUANG for the Denver Post http://www.denverpost.com/2017/02/22/boulder-software-firm-slamdata-investment/
SlamData, which launched its open-source product in 2014, said Wednesday that it raised $6.7 million in a Series A round led by Shasta Ventures, a Menlo Park firm noted for being an early investor in connected-thermostat Nest Labs. Its investment in SlamData is the firm's first in Colorado in more than 10 years.
"SlamData is an enterprise game changer. They are the first company that lets you write once to any kind of data source — transforming how today's businesses can quickly explore, analyze and derive value from their ever-increasing data sources," Nitin Chopra, principal at Shasta Ventures, said in a statement.
The software offers one program for users to explore and analyze unstructured data sources from NoSQL, Hadoop and cloud APIs. Previously, programmers had to build their own software to analyze data from multiple sources.
The new funding, which brings the company's total to $10.3 million raised since 2015, will be used to double staff to 30 employees, said Jeff Carr, SlamData's co-founder and CEO. One recent hire is Sreeni Iyer, previously at retail-intelligence firm Quad Analytix. Iyer, who is senior vice president of engineering, will be based in Silicon Valley and head up the new office there. SlamData also has an office in the United Kingdom.
Existing investors True Ventures, also from the Bay Area, and Access Venture Partners in Westminster also participated in the round.
Source: This article was curated from the original written by TAMARA CHUANG for the Denver Post http://www.denverpost.com/2017/02/22/boulder-software-firm-slamdata-investment/