San Mateo, CA, June 23, 2021 — Incorta, the Direct Data Platform™, today announced $120 million in Series D funding led by Prysm Capital, with participation from existing investors GV (formerly Google Ventures), Kleiner Perkins, M12 (formerly Microsoft Ventures), Sorenson Capital, Telstra Ventures, Wipro Ventures and Ron Wohl, as well as a credit facility from Silicon Valley Bank. The round also included participation from new investor and strategic partner National Grid Partners, which aims to accelerate Incorta’s expansion in the energy industry. Since Incorta’s founding in 2014, the company has raised $195 million in total funding. The latest round of funding will be used to expand go-to-market operations and meet global demand for Incorta’s unified data analytics platform.
“The unprecedented events of the past year highlight the importance of modern data analytics in today’s business environment – platforms and tools like Incorta that deliver data to users directly without costly systems and processes like data warehousing and ETL severely limiting speed and agility,” said Incorta CEO Scott Jones. “After hitting a major inflection point in 2020, Incorta is now scaling fast to meet global demand for modern data analytics in the cloud. This funding enables us to scale up while staying true to Incorta’s DNA and maintaining our best-in-class innovation, quality and customer obsession. We are also thrilled to welcome Prysm and National Grid to the Incorta family, joining our already world-class investors.”
Today’s announcement comes at a time of breakout growth and expansion for Incorta, with major milestones and continued investments in product innovation, customer success, and industry partnerships, including:
Further accelerating Incorta’s growth and expansion is a business and technology landscape where uncertainty and change are the new normal. For companies stuck in outdated data analytics systems and mindsets, it’s becoming more difficult to navigate volatility and manage risk – and these vulnerabilities are becoming impossible to ignore.
Incorta is a unified data analytics platform that enables companies to acquire, enrich, analyze, and act upon business data with unmatched speed, simplicity and insight. Powered by Direct Data Mapping™, Incorta can make tens of billions of rows of data across multiple source databases analytics-ready in a matter of minutes. The platform is built for power users and novices alike, and provides simple, yet powerful tools for individuals and teams to freely explore, enrich, and innovate with data.
“With Incorta, we have a single unified platform that helps us move the business forward with data,” said a Director of Financial Applications at Comcast. “In addition to making existing reports run faster, the platform also gives us the ability to step back and view our data in entirely new ways – to gain insights rather than just sifting through details. Simply put: Incorta delivers on its promise.”
“With Incorta, our team can innovate with data in ways that were scarcely imaginable before,” said Sunjeev Devulapalli, Business Operations Manager/Sales S&P Transformation Lead at Cisco. “We can move fast, try new ideas, self service our data needs, and build creative solutions to operational challenges on a global scale. It’s hard to overstate how powerful the Incorta platform is for our team.”
Investment firm Prysm Capital, which led this funding round, focuses on growing companies in the technology, consumer and healthcare sectors. It is dedicated to helping entrepreneurs build disruptive, market-leading companies.
"Companies have an increasing need to gain insight and make decisions from data with speed and agility, and Incorta provides this mission-critical solution with a differentiated offering," said Muhammad Mian, Co-Founder & Partner at Prysm Capital. "Prysm is excited to partner with an exceptional management team to support the growth of a product that is at the intersection of attractive long-term trends: the explosion of data, digital and cloud transformation, and business intelligence modernization."
About Incorta
Incorta is the only unified data analytics platform powered by Direct Data Mapping™. Purpose-built to help companies stay ahead of the accelerating rate, volume, and complexity of modern enterprise data, the platform delivers unmatched speed and visibility. Incorta is built with open standards and integrates with cloud-friendly tools and platforms, making it easy to consolidate data in the cloud and extract meaningful insights. By making any data source continuously available for analytics, the platform helps business leaders, business teams, and data scientists make more accurate, timely and transparent decisions with faster access to richer data sets. Backed by GV (formerly Google Ventures), Kleiner Perkins, M12 (formerly Microsoft Ventures), Telstra Ventures, Sorenson Capital and Wipro Ventures, Incorta powers analytics for some of the most valuable brands in the world, including Broadcom, Credit Suisse and Shutterfly. To learn more and try it for yourself, visit www.incorta.com.
About Prysm Capital
Prysm Capital is a growth equity firm that partners with best-in-class management teams and entrepreneurs who are building disruptive and generational companies in the technology, consumer, and healthcare sectors. With a long-term and company-first perspective, Prysm helps management teams achieve their next level of growth. For further information, please visit: www.prysmcapital.com.
1. IDC Future of Intelligence: Insights at Scale
2. IDC Worldwide Big Data and Analytics Spending Guide
3. Ventana Research Data And Analytics In The Cloud Benchmark Research
4. Ventana Research Data Preparation Benchmark Research
Media Contact:
Anthony Priwer
Bradford Dalton Group for Incorta
(615) 515-4891
anthony@bradfordgroup.com