CIT GAP Funds and 20K Industries Lead $800K Investment in DataRPM, a Natural Language Big Data Analytics Startup
DataRPM’s platform empowers any enterprise to embed patent-pending computational search technology and natural language analytics into any software application
FAIRFAX, Va., November 14, 2013-- DataRPM, the industry pioneer in natural language and computational search-based Business Intelligence (BI) platform for Big Data analysis, today announced an $800,000 investment from 20K Industries, CIT GAP Funds and other angel investors.
DataRPM will use the funding to continue building a global sales and marketing team, to accelerate product development and to expand its customer support team.
DataRPM offers the next generation business intelligence platform that enables customers to connect to any data source, ask questions in natural language and get insights from their data, without requiring learning complex software interfaces. This feature-rich analytics solution is available in the cloud or on-premise. DataRPM’s customers use the solution for internal management and offer it externally to their own customers by embedding into their software applications, websites, blogs or intranets. The DataRPM solution is implemented quickly and at a fraction of the cost of traditional BI implementations. DataRPM’s groundbreaking computational search technology enables users to mash up data from different sources for real time ad hoc analysis with the ability to type or speak a question on a Google-like search bar. DataRPM’s solution aims to solve the problems of big data by creating a very simple and natural way for anyone to analyze and visualize data on big data platforms like Hadoop, relational databases, social web or other 3rd party systems without being a technology or BI expert.
"Business users need an easy way to get answers from their data sets. DataRPM’s integration of a natural language interface with search-based technology establishes a new standard for ease-of-use and scalability,” said Sundeep Sanghavi, co-founder & CEO of DataRPM. “Our mission is to simplify BI and make it pervasive to provide actionable insights to anyone throughout an organization.” DataRPM’s customers include Avectra, MCWE, MicroPact, 3Pillar Global, Transaction Network Services (TNS) among others.
“We see an opportunity for DataRPM to leapfrog established business intelligence and analytics vendors,” said Haresh Bhungalia, Partner at 20K Industries. “This is a strategic investment for us, and we look forward to DataRPM’s continued success.”
“With Big Data clusters being implemented, the market needs BI solutions that can quickly and easily analyze vast data sets and then deliver actionable results to managers via easy-to-use visualizations. We like the way DataRPM addresses this market need,” said Tom Weithman, Vice President of CIT Entrepreneur and Managing Director of the CIT GAP Funds.
DataRPM is the industry pioneer in natural language and search-based Business Intelligence platform for Big Data that can be embedded into Data of Everything including software, streaming data systems, websites, blogs, intranets etc. either on the cloud or on premises. DataRPM's ground breaking computational search technology enables users to mash-up data from any source for real-time ad-hoc analysis with the ability to just ask questions or search and get back results with rich visualizations and interactive capability to slice-dice, drill-down, filter and collaborate in-place among stakeholders to make informed decisions. DataRPM is privately held and venture funded. It was recognized as one of DC's hottest startups by the Tech Cocktail Showcase and is ranked the top 25 Big Data Analytics company by the Analyst One group.
About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Edison Ventures, In-Q-Tel, and Revolution Ventures. www.citgapfunds.org
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