Israeli data warehouse developer Panoply.io has raised $7 million in its Series A financing round led by Intel Capital and with the participation of previous investor Blumberg Capital.
Founded in early 2015 by Yaniv Leven and Roi Avinoam, Panoply.io is the brainchild of their extended experience leading data management in data driven organizations. The company has offices in Tel Aviv and San Francisco and has raised $8.3 million to date including the latest financing round.
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 SMBs associated in the mobile applications and services industry and expanding to web services oriented industries.
Leven said, “It’s remarkable that what once required teams of engineers can now be accomplished with a click, With Panoply.io, complex tasks like schema building and altering, data mining, complex modelling, scaling, performance tuning, security, backup and more are all handled by an array of machine learning algorithms.”
The service currently operates in a closed beta site, but Panoply.io hopes to open and broaden the beta service by the start of the third quarter of 2016.
Published by Globes [online], Israel business news - www.globes-online.com - on August 3, 2016
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