US-based data warehousing software provider Incorta has completed a $30m series C round involving subsidiaries of internet technology conglomerate GV, software publisher Microsoft and telecommunications firm Telstra.
GV, M12 and Telstra Ventures were joined by investment firm Sorenson Capital, which led the round, venture capital firm Kleiner Perkins, private investor Ron Wohl and unnamed additional participants.
Incorta has built a software platform used by enterprise clients in industries such as financial services, retail and manufacturing to quickly collate data from different locations so it can be processed through third-party data analytics services.
The product handles data without extracting, transferring and loading the information from the original database – a process that can take a considerable amount of time and slow the execution of data analytics.
The capital will allow the company to recruit fresh talent, invest in its underlying technology and strengthen its partnerships with public cloud computing services. It as added 200 new employees and opened new offices in Chicago, Dubai and Bangalore over the past six months.
The round increased Incorta’s funding to $75m to date, it said. M12 and Telstra Ventures provided $15m in October 2018 to close its series B round at $30m. Kleiner Perkins predecessor Kleiner Perkins Caufield & Byers led the $15m first tranche in September 2017, investing together with GV and Ron Wohl.
GV led a $10m series A round for Incorta in March 2017 that included Wohl. The company had collected approximately $3m in equity and debt financing across three rounds in 2014 and 2015, according to securities filings.