Real-Time Analytics Tech Developer Imply Raises $70M In Series C Round

June 16, 2021

Real-Time Analytics Tech Developer Imply Raises $70M In Series C Round

Article by CRN.com

Startup names new CMO and customer success executives as the company looks to expand sales of its analytics-in-motion platform for building analytics-driven applications and real-time business intelligence systems.

Data analytics startup Imply has raised $70 million in a Series C round of funding that brings the company’s total financing to $116 million and boosts its pre-money valuation to $700 million.

The Burlingame, Calif.-based company also announced that it has hired a new chief marketing officer and a vice president of customer success as the startup looks to boost its go-to-market efforts.

Imply, which calls itself the pioneer of analytics-in motion, develops a multi-cloud, real-time data analytics platform for building analytics-driven applications. The software is powered by the open-source Apache Druid real-time analytics database that was developed by Imply’s founders.

In the modern world, what worked yesterday often doesn’t work today. Analytics-in-motion will power the next frontier of digital transformation – the movement away from analytics solutions that are expensive, slow and static towards analytics solutions that are highly scalable, cost effective and enables customers to quickly get to the ‘a-ha’ moment, said Fangjin Yang, Imply’s co-founder and CEO, in a statement.

The new round of financing was led by Bessemer Venture Partners with participation from Tiger Global Management. Existing investors A16Z, Khosla Ventures and Geodesic Capital also participated.

In the funding announcement Imply, founded in 2015, said it has seen growing adoption of both its own software and Apache Druid with Imply now surpassing 100 “enterprise and digital-native customers” that are using the company’s software either as a complete business intelligence and operational analytics system or as the engine for analytics-powered applications they develop.

Praveen Rangnath, Imply’s new chief marketing officer, joins the company from Confluent where he led that company’s product marketing operations including core product marketing, cloud and partner marketing, technical marketing and product go-to-market strategy. Before that he developed Splunk’s cloud marketing strategy and was an early employee at Sumo Logic.

As Imply’s new customer success vice president, Kevin Hodgkins will lead all global customer-facing functions. He joins Imply from data integration technology developer Fivetran where he led customer success for the Americas region, including pre-sales engineering, customer support, and customer and technical success management. Before that he worked at business analytics software Birst both before and after its acquisition by Infor.

Source: CRN.com Article