Next47, a corporate venturing subsidiary of industrial technology and appliance producer Siemens, has led a $48m funding round for US-based enterprise data analytics software provider Yellowbrick Data.
The round also featured DFJ Growth, the growth equity offshoot of venture capital firm DFJ, and followed a $44m series A round disclosed by the company when it emerged from stealth in July this year.
Yellowbrick has built a data warehousing platform that can power an enterprise’s analytics activities in the cloud, on site and at edge computing data centres. It claims its system has outperformed competitors by up to 140 times in customer testing.
The company has acquired customers in a range of industries including financial services, healthcare, telecommunications, hospitality, insurance, retail and e-commerce, and logistics and transportation. The funding will go to increasing its market share.
DFJ took part in the series A round along with GV and Samsung Ventures, subsidiaries of internet and technology group Alphabet and electronics manufacturer Samsung, as well as VC firm Menlo Ventures and Third Point Ventures, the VC arm of investment adviser Third Point.
TJ Rylander, a partner at Next47, said: “The data warehousing industry is overdue for a shakeup, and we believe the Yellowbrick vision for an integrated software and hardware solution for the hybrid cloud is the right path.”
