Startup bags cash to float analytics over apps
Numerify tries to chain biz apps together
Analytics startup Numerify has been pelted with VC cash for its data-slurping technology.
Lightspeed Venture Partners chucked $8m in filthy valley lucre towards the 50-person company after hearing about its analytics technology, it announced on Wednesday.
Numerify's technology makes it possible to combine data inputs from separate applications and analyze them together, and is designed for businesses that consume a large amount of as-a-service technology.
To do this it has developed technology to automate the warehousing and management of data, although the company's chief Gaurav Rewari admits his company will not build its own ETL or database.
The as-yet-unnamed Numerify technology will slurp data out of typical enterprise applications, such as Netsuite or Salesforce, and then render that data down so it can be computed against other datasets from other applications.
"It's not so much monitoring analytics on top of the operational applications, rather it's actually inline semantic analytics based on the data they hold," Rewari says. One example he can imagine is running various data-inspection operations against NetSuite data held on accounts receivable.
One drawback of the approach is that the tech is only as good as the API interface for the application – and this is a variable field. "We are using the APIs they expose which are at different levels of maturity," Rewari, said. "Some APIs give you data in a hierarchical fashion. Some APIs give you access to underlying security model. Those are the kinds of things that we believe we can solve once."
Numerify employs around 50 people and is based in California. Its technology appears well-liked, with supporting statements from NetSuite and Google burnishing its funding press deck.
"Numerify's unique platform-driven approach holds the promise of dramatically altering the economics of building, deploying, and managing ... business analytics applications in the cloud, thus unlocking the full power of the SaaS delivery model for IT and business users alike," wrote Amit Singh, head of Google Enterprise, in a canned statement. ®