US-based big data software developer Adatao has secured $13m in series A funding from investors including Bloomberg Beta, the early-stage venture capital fund owned by media group Bloomberg.
VC firms Lightspeed Ventures and Andreessen Horowitz also took part in the round. The company aims to hire additional staff as it scales its operations to meet demand.
Adatao. which describes itself as Big Data 2.0, is made up of two concepts. PInsights allows users to create embedded analytics to assist with decision making, and Panalytics enables data engineers and scientists to sift through large amounts of data in seconds.
Following the round, Andreessen Horowitz partner Peter Levine will sit on Adatao’s board, while Marc Andreessen will act as a board advisor.