DataHero Secures $6.1M in Series A Funding to Simplify Data Analysis
May 19 – DataHero, the leading provider of self-service Cloud BI, today announced a $6.1 million Series A funding round led by existing investor Foundry Group. In addition, software industry veteran Ed Miller has joined the company as CEO. Both the funding and new CEO reflect the company’s aggressive growth strategy in this rapidly emerging market. Self-service Cloud BI lets anyone go from sign-up to insight within minutes, enabling users to quickly identify and understand the metrics that drive their business.
“DataHero is uniquely positioned in the marketplace with the combination of their intuitive interface, advanced analytics and ability to easily visualize cloud data,” said Ryan McIntyre, Managing Director and Co-founder of Foundry Group. “We invested in the company three years ago because we identified a real market gap for data analysis for the non-technical user. To thrive in today’s business environment, companies need to shift from traditional gut-based decision making to a data-driven mindset for everyone in the organization. This is what DataHero is all about.”
With its unique data classification engine and pre-built connections to dozens of leading cloud services, DataHero makes it easy for users to get insights from the data that matters to them. “While many vendors claim to offer self-service BI, DataHero is the only solution designed to be accessible to anyone, regardless of their technical ability,” said Chris Neumann, Founder and Chief Product Officer at DataHero. “With our Series A funding and the addition of Ed to our team, DataHero is firmly positioned to deliver self-service analytics to all.”
Miller is a 25-year software entrepreneur with a track record in high growth markets and companies in their earliest stages. A serial CEO and entrepreneur, he has led several startups to successful outcomes, most recently, Xythos, which was acquired by Blackboard Inc. (BBBB). He remained with Blackboard and contributed to their $1.64 billion acquisition by Providence Equity Partners. Miller’s blend of strategic thinking and a hands-on approach has been instrumental in his ability to lead sales and strategic development efforts.
“Cloud BI is expected to develop into a multi-billion dollar market but existing solutions don’t meet the needs of the typical cloud user,” said Ed Miller, CEO of DataHero. “Chris and his team have built an incredible solution that addresses the needs of this rapidly growing market, empowering users to make decisions that drive measurable results. I’m excited to draw upon my experience to fuel our growth.”
With the funding and new CEO, DataHero will prepare for substantial growth in 2015, expand development of its core technology, and scale its operations and support infrastructure to meet the growing demand for its service.