March 26, 2014
DC-based startup DataRPM recently announced that it raised a $5.1 million Series A round of venture funding. This round of capital follows up on a $800,000 seed round the company closed last November.
The round was led by new investor InterWest Partners and included additional investments from existing angels at the CIT GAP Fund. The funds will be used to focus on scaling DataRPM’s business and further growing its user base.
“Scaling a rapidly growing SaaS company is difficult work, and we are pulling in all of the expertise we possibly can from the marketplace,” said cofounder and CEO, Sundeep Sanghavi, in a statement to Tech Cocktail.” InterWest has a great team of talented individuals who are assisting in this process and helping to accelerate our go-to-market strategy.”
Operating in Fairfax, VA, DataRPM offers business intelligence (BI) software utilizing natural language search engine technology. Traditionally, SQL query language is used in business analytics, but the company’s software solution allows users to perform searches using a much more user-friendly, Google-like search experience. With this influx of funding, DataRPM has the potential to change the future trajectory of the data analysis industry.
“This investment is a direct reflection of the exciting things our clients, users, partners and well-wishers are doing with the DataRPM platform. [It] also validates the breakthrough solution that our talented team continues to build. We aren’t just building a BI tool, we’re creating a platform that rethinks how we find value in data.”
Since the company’s origins in Bangalore, India, DataRPM has grown into a team of over 25 people across three offices (Bangalore, DC, and San Francisco). On March 31st, the company plans to launch its new Cognitive BI platform at the Gartner BI Summit in Las Vegas.
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