US-based big data analytics services provider DataTorrent closed a $15m series B round yesterday led by SingTel Innvo8, the corporate venturing arm of telecoms company Singapore Telecommunications.
GE Ventures, the corporate venturing unit of conglomerate General Electric, AME Cloud Ventures, August Capital and Morado Venture Partners also participated in the round.
DataTorrent offers a real-time data analytics platform to enterprise users that includes drag-and-drop application development. It can be used for advanced analytics, alerting and automated actions.
August previously led DataTorrent’s $8m series A round in 2013, investing alongside Morado Ventures and AME Cloud Ventures. The company raised $750,000 in a 2012 seed round featuring Morado, AME and angel investor Farzad Nazem.
Singtel Innov8’s managing director Jeff Karras will join DataTorrent’s board of directors in conjunction with the series B round.
Brett May, head of venture capital and mergers and acquisitions at General Electric’s subsidiary GE Software, said: “As more machines are connected to the industrial internet, industrial organisations are generating an overwhelming amount of data at high velocity.
“DataTorrent enables companies to capture and use structured or unstructured data to gain insight and take action in real time. We are excited to see the product innovation at DataTorrent and to support their continued growth.”