Panoply.io Raises $7M Series A to Automate Data Management
Panoply.io announced that it has secured $7 million in Series A funding led by Intel Capital with participation from previous investor Blumberg Capital. This comes on the heels of Panoply.io’s $1.3 million in seed funding from September of 2015. The Tel Aviv-based solution provider simplifies and automates an organization’s analytical Data Management tasks by deploying an array of automated processes that analyze query patterns, metadata and configurations inside of the data architecture. According to the vendor, their automated data warehouse works at lightspeed, offering prospective customers the opportunity to go from raw data to complex analysis in “under 12 minutes.”
In a statement released to TechCrunch Panoply.io’s co-founder and CEO Yaniv Leven adds: “It’s remarkable that what once required teams of engineers can now be accomplished with a click. With Panoply.io, complex tasks like schema building and altering, data mining, complex modelling, scaling, performance tuning, security, backup and more are all handled by an array of machine learning algorithms.”
Panoply.io’s next-generation data warehouses are being developed to to deal with expanding data sources and end-users with more experience than traditional business users, with the end goal of making enterprise Data Management less tedious by removing manual processes ruled by IT. Their service is currently in a closed beta, but Panoply.io expects to open it up to a wider audience by the end of the summer.
Levin concludes: “Apart from our [San Francisco] presence, the funding will allow us to significantly invest in our BI and data integration partnerships, as well as offer Panoply.io across other major cloud providers like Azure, Google Cloud Platform, and more. It’s all about solving the labor-and-time-intensive issues for engineers who really need to focus on more important things.”