US-based data warehousing software provider Incorta has raised $120m in a series D round backed by internet and technology group Alphabet, software provider Microsoft, telecommunications firm Telstra and energy utility National Grid.
The round was led by growth equity firm Prysm Capital and included venture capital firm Kleiner Perkins, investment firm Sorenson Capital and private investor Ron Wohl, as well as a credit facility from Silicon Valley Bank.
Alphabet, Microsoft, Telstra and National Grid participated through corporate venturing units GV, M12, Telstra Ventures and National Grid Ventures respectively.
Incorta has built a data analytics 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 company’s client base includes international brands such as Broadcom, Credit Suisse and Shutterfly. It will use the funding to expand its go-to-market operations and meet global demand for its product.
The round brought Incorta total’s funding to $195m. It completed a $30m series C round in August 2019 led by Sorenson Capital that included GV, Telstra Ventures, M12 Kleiner Perkins, Ron Wohl and unnamed additional participants.
M12 and Telstra Ventures had provided $15m in October 2018 to close Incorta’s 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 Wohl.
GV had already 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.