US-based big data software optimisation platform Unravel Data has received $35m in a series C round that featured M12, the corporate venturing arm of software producer Microsoft.
Venture capital firm Point72 Ventures led the round, investing alongside VC firms Harmony Partners, Menlo Ventures and GGV Capital.
Unravel’s software uses artificial intelligence, machine learning and predictive analytics technology to help enterprise clients to manage and optimise their big data software applications.
M12 partner Rashmi Gopinath said: “As enterprises of every size choose the (Microsoft) Azure Cloud platform to build and deliver their modern data applications, Unravel has proven an important tool to help operationalise this data and drive tangible value to the business.
“Azure and Unravel have worked closely on product development and go-to market execution and are well positioned to meet this market demand.”
The round comes after Unravel raised $15m in a January 2018 series A round led by GGV and backed by M12 (then known as Microsoft Ventures) and Menlo Ventures.
The company emerged from stealth in 2016 having secured more than $7m in a series A round led by Menlo Ventures. It had previously secured an undisclosed amount of seed funding from VC firm Data Elite Ventures and angel investor Jyoti Bansal.