Alpine Data Labs, a US-based developer of data analysis tools spun out from Greenplum after its acquisition by EMC last year, has raised $7.5m in its series A round from a consortium including Japan-based conglomerate Sumitomo.
Venture capital firms Sierra Ventures and Mission Ventures joined Sumitomo Corporation Equity Asia, the Asian unit of Sumitomo’s Strategic Venture Investment division, in the round. The money will help Alpine, which has also been backed by Stanford University, expand in the US and China.
Anderson Wong, chief executive and co-founder of Alpine with Yi-Ling Chen, said: "Companies cannot wring all the possible value from their data because the potential in their data is growing faster than they can analyze it, they don’t have enough resources with analytics expertise, and the tools they’re using are too complex to get to the answers they need quickly and effectively."