On October 22, cloud-based analytics vendor Numerify announced the finalization of $37.5M in Series C funding led by Tenaya Capital. The funding raise was completed with additional participation from Sequioa Capital and Lightspeed Venture Partners and new investors in the form of the Silicon Valley Bank and Four Rivers Group. The capital raise represents powerful validation of Numerify’s business model based on a cloud-based analytics platform that delivers actionable business intelligence regarding areas such as IT infrastructures, business units and business processes. In contrast to cloud-based analytic solutions that focus on delivering data in formats that enable reporting and analytics, Numerify differentiates by using its analytics platform to identify opportunities to improve operational efficiency, reduce costs, increase revenue and enhance analytics related to risk, fraud, and threat intelligence. Gaurav Rewari, CEO and Founder of Numerify, remarked on the significance of the capital raise as follows:
As one of the first IT business analytics providers on the market, we are delighted that this space is growing so quickly. With our pre-built analytic applications in the cloud that combine domain best practices with hundreds of metrics, reports, dashboards and a unified analytical data model embracing the full sweep of IT business operations, this new investment will support us through our next phases of exponential growth.
Here, Rewari highlights the platform’s “pre-built analytic applications” that use industry-specific best practices to deliver reports and dashboards featuring metrics, KPIs and analytic insights that help optimize IT business operations. The product spans the gamut of IT operations by including processes such as HR, call center operations, finance, assets, infrastructure and project management within its analytical purview. The funding will be used to accelerate product development and expand sales and marketing operations. Thursday’s funding raise brings the total capital raised by Numerify to $60M.