Big data and analytics startup Datameer raises $40M in funding to help enterprises unlock the value of their data
Datameer, an analytics lifecycle platform that helps enterprises unlock all their raw data using machine learning, has raised $40 million in funding to further extend its leadership position in the enterprise data preparation and exploration market, serve the ever growing AI market and to accelerate the development and market introduction of the disruptive Neebo solution.The round was led by existing investor ST Telemedia (STT), with participation from long standing shareholders Redpoint Ventures, Kleiner Perkins, Nextworld Capital, Citi Ventures and Top Tier Capital Partners.
Founded in 2009 by Stefan Groschupf, the San Francisco, CA-based Datameer is the company behind Datameer X, the data prep solution for machine learning, and Neebo, the Virtual Analytics Hub that enables analytics professionals to find, connect, combine, collaborate, and publish analytics assets.
Datameer’s cloud-native platform was built for the complexity of large enterprises—yet it’s so easy to use that everyone from business analysts to data scientists to data architects can collaborate on a centralized view of all their data. Without any code, teams can rapidly integrate, transform, discover, and operationalize datasets to their projects. Datameer works with customers from every industry including Dell, Vodaphone, Citibank, UPS, and more.
“We are thrilled to see an exceptionally unifying product like Neebo come to market, that will bridge analytics in the on-premises and cloud worlds to drastically increase analyst collaboration and productivity,” explains Stephen Miller, President and Group CEO of STT. “We are also proud that the Datameer team is innovating at a rapid pace, and has already filed five patents for Neebo to bring a highly differentiated product to market. ST Telemedia’s increased investment in Datameer reinforces our strategic focus to build world-class data-centric cloud technologies platforms. We are delighted to support Datameer in their continued innovation and growth.”
Over the past couple of years, enterprise systems landscapes have become increasingly complex and disparate. Today, analytics assets reside in data warehouses, data lakes, content repositories, and SaaS applications—both on-premises and in the cloud. As such, effective centralization has become a challenge. Neebo solves this challenge by creating a single view of all analytics assets, accessible from one location.
“Neebo virtualizes these complex landscapes, without moving data and other assets, and uses machine learning to help analytics professionals find and create assets, combine them, and publish them to any BI or data science tool,” says Christian Rodatus, CEO of Datameer.
“Neebo is a SaaS solution that enables analytics professionals to kick-start a project in minutes and helps them immediately decrease time-to-insight. AI-enabled discovery and blending builds a searchable repository of trusted assets to further boost analyst performance. This is all achieved in an environment that doesn’t compromise data governance and security.”
CloudCover’s customers, for example, have data on multiple clouds and database technologies.
“Neebo saves our customers a costly migration exercise by unifying disparate data sources without having to copy and duplicate data. It allows us to focus on higher value services and our customers love us for it!” says Vishal Parpia, CloudCover CEO.