Zoomdata is a new-comer to the Business Intelligence world. This is a market that has been around for years. As long as computers have been getting used with companies, and since companies have been strategizing around technology.
Today, Zoomdata received $17 million in Series B funding that will continue the company on the trajectory it is trying to achieve with the funding. In July 2013, $4.1 million was invested by Accel Partners, NEA, Columbus Nova Technology Partners, Razor’s Edge Ventures and B7.
Once again, this round of investing was led by the same core group of investors. This isn’t something that’s unusual, either. This is something that tends to happen all the time with small tech startups that ultimately rely on the contribution to get off the ground running.
Justin Langseth, the founder and CEO of Zoomdata argued that his competitors in the industry like Tableau and Qlik are outdated. He cited the fact that the companies were born in a world of SQL and data warehouses, whereas now, the game has changed significantly and a more modern approach is needed to handle the evolving world that is Business Intelligence.
Zoomdata was created and built to process platforms that are in regular use, and technologically “up-to-date” with modern standards like Hadoop, Spark, and NoSQL. The company also claims that the competition is forcing individuals onto their outdated technology because it would take more money, and more time to develop what Zoomdata already has developed naturally.
It seems to all hinge on data visualization. For instance, Zoomdata has been said to have the technology and proof that they can create visualizations of data that are streaming onto phones, tablets, and computers – while the data is still being collected.
This is something that in the business world, would be something that would entirely change the game in multiple ways. It would give companies real-time insight into how the company operates, and how to make changes that are adapting to actual changes, which can be supported by data – rather than making changes that are ultimately made out of speculation of what the data may say.
The software is also looking to reach less technically advanced customers. The idea is putting more information at the hands of the individuals who are at the ground level, making decisions, is ultimately what will make better employees and better people to drive the bottom line – and it will take some pressure off of the upper-portions of management.