NEWS & VIEWS

Global private equity and venture capital news and research

Andreessen Horowitz, Sutter Hill return for second Platfora investment

13 Nov 2012

Andreessen Horowitz and Sutter Hill Ventures have made a repeat investment in business intelligence company Platfora as part of a $20m financing round.

Battery Ventures led the Series B round, which will see the firm’s general partner Roger Lee join the Platfora board of directors.

Platfora said it would use the investment to respond to strong interest in its product by expanding sales and marketing in the US and globally, and continuing to build out its product engineering and design team in California.

Battery principal Mike Dauber said, “We believe that Platfora represents the future of business analytics.

“With the emergence of Hadoop legacy ETL, data warehouses, and BI solutions no longer make sense.

“The early demand for Platfora speaks to the company’s vision and understanding of how businesses need and want to access and analyze data.

“Ben and the rest of the Platfora team are building the next powerhouse data company and we are thrilled to be a part of it.”

Last month Andreessen Horowitz also led a $15.5m Series B financing round for smart mobile services provider ItsOn, which also saw participation from San Francisco’s SV Angel.

Previous investors in the software company, which aims to gives phone users more flexibility over their billing, have included Vodafone Ventures and Verizon Investments.

Copyright © 2012 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014