NEWS5 December 2012

ClearStory Data announces $9m series A investment

Financials North America

US — Big data analytics provider ClearStory Data has announced the closing of a $9m series A financing round with Kleiner Perkins Caufield & Byers, Google Ventures and Andreessen Horowitz.

Google Ventures and Andreessen Horowitz were previous seed round investors, while Mike Abbott, managing partner at Kleiner Perkins Caufield & Byers, will now join the ClearStory Data board of directors.

ClearStory Data helps businesses to simplify access to disparate data sources, automatically manage data harmonisation, and enable interactive analysis at scale. The aim of the platform is to help organisations to easily converge data from corporate and third-party sources to make business decisions faster and across distributed teams.

Sharmila Shahani-Mulligan, CEO and founder of ClearStory Data, said: “With the astounding growth in external sources of data, data marketplaces, and corporate data housed in new big data platforms, it’s time to make it a lot easier for business users to interactively explore and analyse information no matter where it comes from.”

Mike Abbott, managing partner at Kleiner Perkins Caufield & Byers and the former VP of engineering at Twitter, added: ”We share ClearStory Data’s vision of an enormous market opportunity for everyday business users to work with big, diverse data easily and quickly. We’re investing in a proven team, a market-changing platform and an opportunity that promises to disrupt, bringing big data into the hands of the true business user beyond the specialized domain of data scientists and quants.”