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DataGravity Gets $30 Million B Round
It said it will use the money for product development as well as marketing and sales
By: Maureen O'Gara
Jan. 30, 2013 09:30 AM
DataGravity, an early-stage company whose mission is to turn Big Data into information simply, has raised a $30 million B round led by Andreessen Horowitz. Andreessen partner Peter Levine gets a seat on the board.
Previous investors Charles River Ventures and General Catalyst Partners, which kicked the start-up off with a $12 million A round, also participated.
DataGravity said it will use the money for product development as well as marketing and sales.
It's trying to develop products that remove the need for complex software packages to extract value and information from stored data. It's expecting to field its first product next year.
The company's founders includes CEO Paula Long, one of the founders of EqualLogic, which was acquired by Dell for $1.4 billion in 2008, and president John Joseph, the former VP of marketing and product management at EqualLogic.
The Nashua, New Hampshire-based start-up is supposed to be positioned to be in front of a potentially enormous market and Levine expects the funding "to move it forward in addressing the enterprise mandate to radically change the way IT extracts information from data."
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