With Additional Funding from Canaan Partners, Big Data Acquisition and Integration Innovator Plans to Boost Sales and Marketing Efforts, Ramp Up Engineering and Speed Market Capture
SAN MATEO, Calif. – Sept. 28, 2015 – Unifi Software, the only comprehensive data integration solution for the enterprise, today announced it has secured $10 million in Series A funding, led by Pelion Venture Partners with additional funding from Canaan Partners, which had previously led the seed round.
The company will use the new round of funding to scale customer acquisition by ramping up its sales and marketing team; to execute on Unifi’s product vision by growing the engineering team; and to accelerate market capture through the introduction of a cloud-based free trial version of the product. Unifi provides an elegant and simple user experience that enables line of business users to search and discover data assets of interest across the entire enterprise landscape; acquire, enrich and integrate those data assets; and then seamlessly derive insight within their analytics tool of choice. Customers include the likes of A.T. Kearney and Havas Media Group.
“This layer of the enterprise software stack is primed for disruption,” said Rob Carlson, CEO and co-founder at Unifi. “There’s a groundswell movement of self-service access to data, and Unifi is uniquely positioned to lead this charge. Now we can do even more to enable our customers to become data-driven enterprises, and provide a truly innovative experience around analytics.”
Pelion is an early-stage venture capital firm that works closely with visionary entrepreneurs to build innovative and disruptive businesses. Pelion has been an early investor in technology companies such as Riverbed Technologies, CloudFlare, Fusion-io and Soasta.
“Pelion believes that every business analyst will need the Unifi platform to integrate and use data in an organization,” said Chad Packard, Partner at Pelion. “The unique approach that Unifi offers is a more complete solution, and is the missing piece in the data integration space that will allow business users to extract more value from their business intelligence and analytics tools.”
Canaan Partners, the other investor in the round, is a global venture capital firm that invests in game-changing technology and healthcare startups. Last December, Canaan led seed financing of $4.45 million for Unifi in a round that also included Omaha Capital LLC. Canaan has been an early investor in technology companies such as PrimeSense and SuccessFactors, and in health care companies like Cerexa, Chimerix and Advanced BioHealing. Unifi used the seed funding to scale the business, accelerate development of the data acquisition and integration software, and support its Early Access Program, which included six Fortune 500 companies.
About Unifi Software
Unifi was founded with a mission of solving the ubiquitous data acquisition and integration problem that has plagued enterprises since the dawn of data warehousing. The landscape of data analysis that enterprises are embarking on today has significantly advanced in just a few years’ time. The days of building an enterprise data warehouse to report on financial status or sales over time is no longer a competitive advantage; in today’s world doing this well is now considered a cost of doing business.
The core problem that has arisen in this new era of analytics is business users have not been enabled to participate in the most critical part of the process that has the biggest impact on time to insight. With the advent of the Hadoop data storage and processing platform this has created a unique opportunity to build an application that enables the business to acquire data, integrate it, enrich it, and load it into a flexible environment where agile and iterative analytics can occur.
Unifi has built a first-of-its-kind business application that combines Big Data integration processing layered with an elegant and simple user experience that dramatically increases productivity and time to insight.