Infoworks Secures $25M in Series C Financing Led by NEA
Company plans to scale up go-to-market initiatives to meet strong market demand
PALO ALTO, Calif., October 25, 2018-- Infoworks.io, the leading software platform provider for agile data engineering, today announced it has closed $25 million in Series C funding led by New Enterprise Associates (NEA), with participation of existing investors Nexus Venture Partners and Centerview Capital Technology. This latest round of financing will be used to scale up the company's go-to-market initiatives to meet market demand.
"Every enterprise understands the urgency of digital transformation and the central role that data plays in the process," said Scott Sandell, Managing General Partner at NEA. "In a world where analytics agility is a key competitive edge and big data expertise is scarce, automation is the clear answer. We believe that Infoworks has developed precisely the solution that enterprises need to establish an agile data foundation for digital transformation. We were impressed by the scale at which Infoworks has been deployed by very large enterprises and are excited to partner with such an extraordinary team on this remarkable opportunity."
The Infoworks platform eliminates the complexity of big data by automating the entire data engineering process, from source to consumption, through a visual, code-free environment that enables organizations to launch new analytics use cases and data driven applications in days instead of months. The company counts some of the world's largest financial, retail, technology, healthcare, oil & gas, pharmaceutical and manufacturing companies in the Fortune 100 and Global Fortune 500 as its customers.
"We are thrilled and honored to join hands with Scott and the NEA team on our journey to build a truly transformative company," said Buno Pati, Executive Chairman of Infoworks. "We are experiencing massive market demand for the Infoworks solution, and this round of financing will help us scale our ability to meet the demand. There is no substitute for being in the right place, at the right time, with the right product, and having NEA lead this round of financing further strengthens our position with the right partner."
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $20 billion in cumulative committed capital since the firm's founding in 1978, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 225 portfolio company IPOs and more than 375 acquisitions. For additional information, visit www.nea.com
About Nexus Venture Partners
Nexus Venture Partners is a leading early-stage venture capital firm that operates as a single team with operations in the US and India. With decades of experience in building and funding globally leading companies, Nexus' footprint in the world's two leading markets positions it uniquely with global insights and ability to serve entrepreneurs. Nexus family includes Druva, H2O.ai, Headspin, Aryaka, Kaltura, Postman, Pubmatic, Infoworks, Cloud.com, Mezi, Gluster, Clover Health, Rancher, Helpshift, Delhivery, Snapdeal, Shopclues, OLX, and Unacademy. For more information, visit www.nexusvp.com.
About Centerview Capital Technology
Centerview Capital Technology, based in Palo Alto, California, is an investment adviser focused on growth capital for the technology industry. Centerview Capital Technology actively partners with leading management teams to build enduring companies, including SecureWorks, Sauce Labs, Quantenna Communications and Acquia. The team has extensive technology-sector knowledge, operational expertise and deep industry relationships that can be leveraged to unlock value and propel businesses forward. To learn more about Centerview Capital Technology, visit www.centerviewcapital.com/technology/.
Infoworks agile data engineering software automates and accelerates analytics projects through the company's Autonomous Data Engine, which has been adopted by some of the largest enterprises in the world. Using a code-free environment, Infoworks allows organizations to quickly create and manage data workflow processes from source to consumption. Infoworks customers deploy projects to production within days, dramatically increasing analytics agility and time-to-value. Founded in 2014 and headquartered in Palo Alto, the company is funded by Nexus Venture Partners, Centerview Capital Technology, NEA, and Knoll Ventures.
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