US-based data analytics software developer Incorta has raised $15m from software provider Microsoft and telecommunications firm Telstra to increase its series B round to $30m.
Telstra Ventures and Microsoft’s M12 unit provided the funding, which follows a $15m first close in September 2017 that was led by venture capital firm Kleiner Perkins Caufield & Byers and backed by Ron Wohl.
Founded in 2013, Incorta has developed data analytics software that can rapidly generate insights and reports from multiple data sources, allowing enterprise clients to reduce their reliance on mass data warehouses.
The capital will help fund Incorta’s go-to-market strategies, including a software update that will offergreater scalability and better integration with data science platforms.
GV, a subsidiary of internet technology conglomerate Alphabet, led Incorta’s $10m series A round in March 2017, which included Ron Wohl, after the company had raised approximately $2.6m in equity and debt financing across three rounds in 2014 and 2015, according to regulatory filings.