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NEWS30 January 2013

DataGravity secures $30m In series B funding

Financials North America

US — DataGravity, an early-stage data mining company, has raised $30m in a series B investment round led by Silicon Valley venture capital firm Andreessen Horowitz. Previous investors Charles River Ventures and General Catalyst Partners also participated in the round.

DataGravity says it will use the investment to advance product development and to scale marketing and sales efforts to support the company’s go-to-market strategy.The company specialises in helping enterprises turn data into information without complicated systems.

Under the deal, Peter Levine, partner at Andreessen Horowitz, will join the DataGravity board of directors alongside existing DataGravity board members David Orfao, managing director at General Catalyst Partners, and Bruce Sachs, general partner at Charles River Ventures.

Levine said: “There’s a renaissance underway in enterprise computing, and DataGravity is among the pioneering companies doing the hard work of solving intractable enterprise challenges. 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.”

@RESEARCH LIVE

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