The data analytics industry is beginning to boom and business intelligence company Datameer is benefitting from this trend. Today, the firm announced it had raised $19 million in Series D funding for its data analytics platform.
The latest funding round was led by Next World Capital (NWC). Workday, Software AG, and Citi Ventures also participated in the said round. Existing investors Redpoint Ventures and Kleiner Perkins Caufield & Byers also contributed to the funding. The new round raises Datameer's total investment to $36.6 million, the Techcrunch explained.
The Datameer technology works in tandem with MapReduce, which is a software that maps the data and prepares it for integration, analytics, and visualization. Storage framework Hadoop acts as the hub with Datameer as the platform source for the actual business intelligence..
The said model is being used by companies such as Sears are beginning to use to prevent credit card fraud. According to Datameer, other companies use cases with predictive maintenance and pricing mechanisms for advertising.
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