InfluxData, a US-based data analysis software developer backed by media group Bloomberg, secured $60m in series D funding yesterday from a consortium led by growth equity firm Norwest Venture Partners.
Sapphire Ventures, the venture firm spun out of software producer SAP, also contributed to the round, as did Sorenson Capital, Battery Ventures, Mayfield Fund, Trinity Ventures and Harmony Partners.
Founded in 2012, InfluxData has built an open source platform to analyse metrics and events – known as time series – collected by internet-of-things devices and applications.
The series D funds will go to customer support operations and product development, with a focus on the cloud. InfluxData intends to also expand its sales activities, particularly with regards to marketing its platform to e-commerce, gaming and financial services firms.
Rama Sekhar, a partner at Norwest Venture Partners, and Max Schireson, entrepreneur-in-residence at Battery Ventures, have joined the company’s board of directors in connection with the round.
InfluxData has raised more than $120m in equity funding to date, closing its $35m series C round in February 2018. Sapphire led that round with participation from Harmony Partners, Battery Ventures, Mayfield Fund and Trinity Ventures.
Bloomberg Beta, the big data-focused corporate venturing subsidiary of Blomberg, backed a $16m series B round for the company in 2016 that was led by Battery Ventures and backed by Mayfield and Trinity Ventures.
Bloomberg Beta had first invested an undisclosed amount in InfluxData in 2013, before the company secured $9.1m from unnamed investors the following year.
