Today, in an unusual seed round for an Israel based company, Panoply.io just announced a $1.3m seed round led by a quality list of US investors. Significant participants in the round include Blumberg Capital, 500 Startups, and FundersGuild. The Panoply.io data warehousing platform released its closed beta in Q3 2015 and is up and running with 10 integrated customers. With this round of funding Panoply.io will be doubling its development team and launch into open beta in Q1 2016.
Founded in early 2015 by Yaniv Leven and Roi Avinoam, who previously ran analytics and data management technology at Mytopia (acquired by 888Holding (LSE: 888.L) and Win (a subsidiary of Bwin.party digital entertainment (LSE: BPTY.L)). Panoply.io is the brainchild of their extended experience leading data management in data driven organizations.
Panoply.io takes a new approach to cloud data warehousing raising it from the infrastructure level to the platform level, doing to data management and analytics what New Relic did to performance monitoring and what Heroku did to app development. While traditional SaaS data warehousing solutions focus on easier delivery of data warehousing infrastructure, Panoply.io’s software aims to fully automate the manual processes, including modeling, scaling, performance and storage optimization. Panoply.io enables any online data driven organization, focusing initially on data driven
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SMBs associated in the mobile applications and services industry and expanding to web services oriented industries.
“We built Panoply.io based on a pain point felt in many data driven organizations,” said Yaniv Leven, co-founder, Panoply.io. “As data sources become more and more fragmented and internal customers become more and more data savvy, DBA, IT and Analysts become bottle necks of data utilization instead of data enhancers. With Panoply.io’s fully automated data warehouse, we democratize the ability to harness big data capabilities. Enabling them to get a modeled scalable cloud warehouse cluster over Redshift with no coding in less than 5 minutes and go from raw data to complex queries in less than 15 minutes. Not months, not weeks or days, minutes. We’re delivering enterprise level data storage and scalability with optimal query performance to any data driven SMB at a fraction of the time and cost.”
(image credit: Mark Hunter, CC2.0)