June 3, 2015
Are you ready for a shocking statistic? According to an article on Science Daily, about 90 percent of the entire world’s data was created in the last few years. The smart companies out there want to study and capture value from their own data, but that can be difficult.
However, Plotly is directly addressing this need by powering interactive graphs and dashboards on a robust data science platform. In an effort to support the over 200,000 users they already have, alongside a growing enterprise demand, the team announced today that they have raised $5.5 million in funding.
The funding round was backed by MHS Capital, Siemens Venture Capital, Rho Ventures, Real Ventures, and Silicon Valley Bank. Specifically the Plotly team is looking to scale engineering and sales teams as they move forward with their $5.5M.
“As early stage investors, it is our mission to identify passionate, driven, tenacious entrepreneurs on the path to building market-leading companies, and after spending time with the Plot.ly team, speaking with their users, and delving deeply into their product offering, we believe they’re on the path to building a very special company,” says Vijay Nagappan of MHS Capital.
As the team would say, they’re serving a crucial need. Over the past year alone, the number of organizations working on data-driven projects has increased by 125 percent. Not to mention the demand for data scientists has multiplied by a factor of 12 since 2010.
To that end Plotly combines familiar social features like sharing, commenting, and a Graph Feed with powerful tools for statistics, visualization, and data exploration. The platform also runs onsite and doesn’t need to be downloaded.
“It used to be impossible to collaborate, share data and graphs, and work together on data analysis. We're changing that by making collaboration easy and delightful,” says Plotly cofounder and CEO Jack Parmer. “It’s exciting to support real scientists, developers, analysts, and engineers using the platform to share their work with the Plotly community, their team, and the world.”
To date Plotly has powered decision making across top tier firms like Google, the US Air Force, and NASA. With this kind of momentum and traction my gut tells me that they won’t be small scale for much longer.
Image and Graph credit: Plotly Facebook page
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