Mode Analytics has raised $33 million in Series D funding according to a blog post by CEO Derek Steer. The round, which brings the company’s total earned to $83 million since its founding in 2013, includes participation from new and existing investors. Mode will use the capital injection to enhance and accelerate its cloud-based advanced data analytics platform.
Mode Analytics lets you run advanced analysis by switching between a cloud-based SQL Editor, Python and R notebooks, and interactive visualizations. The SQL Editor enables users to share and search analysis and set definitions while reports update automatically. Dashboard key features include calculated fields, drag-and-drop analysis, and custom visualizations. Notebooks let you expand your analysis, collaborate across team and tell stories with the data.
It’s been a whirlwind for the San Francisco-based Mode Analytics, as the company added a number of big name customers (Zillow, Lyft, Bloomberg, Capital One, VMWare) since the start of 2019. The vendor says it best: “At this point, 52% of the Forbes 500 have signed up for Mode.” Mode has processed 830 million query runs and 170 million notebook cell runs for 300,000 users.
In a media statement on the news, Steer adds: “Traditional business intelligence can show what’s happening, but not why. Even at companies with huge investments in self-serve BI, people constantly ask the data team follow-up questions. Making the data team more effective, and making the collaboration between the two groups work flawlessly, is the unmet need that Mode has filled. In doing so, we have laid the foundation for the future corporate knowledge base.”
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