Behavioral analytics provider Interana recently announced that they’ve secured an $18 million dollar oversubscribed venture funding round led by Vertex Ventures with participation from Battery Ventures, Data Collective, Allen & Company, Fuel Capital, and Index Ventures. The new capital brings the company’s total funds raised to more than $46 million since its founding in 2013. The cashflow will be used to advance product development and support the vendor’s next phase of growth, which is to expand its customer base. Currently, Interana’s customers include Bing, Tinder, Reddit, Asana, and Azure. In conjunction with this announcement, Interana has named Max Schireson of Battery Ventures and Sik Rhee of Vertex Ventures to their Board of Directors.
Organizations use Interana’s behavioral analytics solution to answer deep questions about digital behavior. The company explains: “Traditional BI and reporting tools are either general business intelligence tools that are based in answering the kinds of questions typical in pre-digital businesses, or they are simple clickstream reporting tools that provide simple metrics on web and mobile services. Both are extremely limited in their flexibility and scalability for companies to answer new questions about behaviors of people and things accessing the full range of digital services today.”
Behavioral analytics is quickly evolving in the flooded analytics market due to the continued and overwhelming expansion of web services, cloud, IoT, AI, bots and other kinds of digital services. These services all generate tremendous amounts of data. Interana believes that understanding digital behavior of people and devices are becoming increasingly crucial for any company looking to advance a “digital transformation.”
Interana CEO Ann Johnson speaks to the new capital investment, adding: “Our mission is to put the power of interactive data exploration in the hands of everyone across today’s digital businesses. This latest round of funding and powerhouse additions to Interana’s board will help make this vision for self-service behavioral analytics a reality. We are thrilled to welcome Max and In Sik to the Interana family as we enter this significant next phase of business growth. They bring exceptional experience in growing and leading successful startups, and their contributions and perspective complement our board’s existing strengths.”
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