Cognitive business intelligence platform provider DataRPM secured $5.1 million for its Series A funding round, a statement about the funding said.
InterWest Partners led the round which was also participated in by CIT GAP Funds. Proceeds from latest round will be deployed towards the company's worldwide marketing strategy, the statement said.
A leader in the field of business intelligence, DataRPM solves the issues of data modeling and usability that are the two main problems that largely hinder the adoption of data analysis. With its business intelligence or BI platform, DataRPM automates the data modeling process and simplifies analytics through an interface that frames questions and answers in the natural language, the statement said.
Khaled Nasr, a partner at InterWest Partners said in the statement, "By lowering the cost of ownership and emphasizing usability, DataRPM is making business intelligence a no-brainer. Until now, BI solutions and Big Data have largely ignored the data modeling process. DataRPM uses sophisticated algorithms to automate what is otherwise a heavy manual lift. Their combination of affordability and ease-of-use creates the opportunity for companies of all sizes to get meaningful insights from their data."
The founders of DataRPM have experience with the product they are promoting as they have worked in BI, Big Data and Search in companies like IBM, Yahoo and Arthur Andersen. The brains behind the startup are Shyamantak Gautam, Ruban Phukan and Sundeep Sanghavi, the statement said.
DataRPM Co-Founder and Chief Executive Officer Sundeep Sanghavi said in the statement, "Our mission is to simplify business intelligence. We provide insights, actions, and results from of the massive amount of data with a machine first, removing the cumbersome manual lift. Pairing our computational search platform with machine learning and natural language interface, greatly simplifies the process of gaining insights from data."
DataRPM was recognized by the Tech Cocktail Showcase as one of the hottest startups in DC in 2013, the statement said.
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