‘Anti gut-decision’ analytics company Platfora nets $38m financing round


network dataUS early-stage investment firm Tenaya Capital has led a $38m financing round for big data analytics business Platfora, which says its software “aims to eradicate the gut decision”.

Existing investors including Andreessen Horowitz, Battery Ventures and Sutter Hill Ventures also took part in the round alongside new capital from Citi Ventures, Allegis Capital and Cisco.

The investment brings the total raised by Platfora to $65m, and will be used to invest in talent, technology and field organisations according to the business.

Tenaya managing director Brian Paul said, “The widespread adoption of big data infrastructure by mainstream enterprises presents a tremendous opportunity for analytics vendors.

“We believe Platfora’s unique intellectual property and its ability to help any company unlock new business opportunities from their data assets will resonate in the market.”

Earlier today T Rowe Price revealed it had led a hefty $160m financing round for analytics data management business Cloudera.

The latest funding, which also included commitments from Google Ventures and Michael Dell’s family investment firm MSD Capital, brought Cloudera’s total venture capital raised to $300m.

Copyright © 2014 AltAssets