On Tuesday, Looker Data Sciences announced it raised USD16 million in early-stage funding. Looker is a two year-old startup that aids businesses in analyzing data.
Nowadays, new corporations complain about the funding crisis in the Series A or early-stage funding. The amount Looker was able to raise would put the company in a prime position to beat its competitors.
In addition to Looker, BitSight, an online-security corporation, also raised USD24 million Series A in June. Optimizely, a website-testing firm, raked in around USD28 million in March. Moreover, AvantCredit, a data-driven lending online service, amassed USD34 million in April.
"The definition of Series A has been strained," Tomasz Tunguz, Redpoint Ventures' principal who managed Looker's funding round, said. "You have larger and larger rounds that are called Series A."
Investors said startup companies that generate revenues would keep on growing their funds. Their capability to earn more income could attract venture capitalists at the conventional levels. Typically, about USD2 million to USD5 million for series A could be raised.
Join the Conversation