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ClearStory Data secures $21M in Series B funding round

March 31
4:55 PM 2014

ClearStory Data bagged $21 million in its Series B financing round bringing to $31.5 million its funding total so far, TechCrunch reported.

The round was led by DAG Ventures and participated in by Andreessen  Horowitz, Google Ventures, Khosla Ventures and Kleiner Perkins Caufiled & Byers. ClearStory Data was co-founded by John Cieslewicz and Vaibhav Nivargi, who were formerly from Aster Data. Another founder, Sharmila Mulligan serves as ClearStory Data's Chief Executive Officer. Mulligan formerly worked for Netscape, Kiva Software, Opsware and Aster Data. In conjunction with the funding, ClearStory also named Shona Brown, who formerly served as Google SVP, to its Board of Directors, the report said.

In a statement about the funding, Mulligan said, "Data in the workplace now comes from innumerable sources and it has to get easier and faster for business users and analysts to reach answers without relying on IT or data scientists. Further, there needs to be a new way for people to collaborate as data gets more abundant, for faster decision making. Our end-to-end solution combines all the data processing, intelligence, and user experience needs to achieve this. Today's investment lets us scale rapidly to shape next-generation Data Intelligence and change how companies consume data."

ClearStory Data's aim is to make it convenient to collect and discover different and data sets from both internal and corporate data sources, Hadoop and the Web. By using the platform, public and private businesses are able to find new trends and patterns which result to the finding of fresh business opportunities. It will also result to more extensive intelligence and the firm's strategies that are working or not, the report said.

John Cadeddu of DAG Venture said in the statement, "The ClearStory Data team brings unique big-data expertise and superb design experience together to solve this problem for businesses worldwide and we look forward to helping create a market-changing company."

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