Numerify Announces $8 Million in Venture Capital Funding to Transform Business
Analytics in the Cloud
MicroStrategy, Hyperion and Oracle Veterans Raise Oversubscribed
Series A Led by Lightspeed Venture Partners to Found Innovative
Business Analytics Company
CUPERTINO, CA -- (Marketwired) -- 10/02/13 -- Numerify today
announced $8 million in venture capital funding today after
completing an oversubscribed Series A round. The funding will be used
to drive product development, deploy initial customers and deliver on
Numerify's vision to provide SaaS application users with a turnkey
Business Analytics solution to rapidly deliver the meaningful numbers
necessary to successfully chart the course of their businesses.
In less than a decade, businesses have quickly transitioned key
operational applications from on-premise environments to the cloud
for greater scalability, flexibility and cost savings. As
organizations look to derive these same benefits for their business
analytics and data warehousing environments, they are confronted with
a significantly more complex data landscape. This complex landscape
is a result of cloud-based sources continuing to be siloed from one
another, and from on-premise systems that still hold important data
Historically, this challenge has required businesses to embark on
services-intensive data integration and warehousing projects that are
lengthy, risky and expensive.
"At Numerify, we believe that a large part of the burden of this new
data integration and analytics challenge can be shifted from man to
machine," said Gaurav Rewari, CEO and co-founder of Numerify.
"Further, we believe that the SaaS business user can and should drive
the scope of 'numerification,' i.e. what data assets get assembled
for analysis, when, and how. Numerify will disrupt the economics of
such analytic solutions and dramatically improve their ROI."
Leading venture capital firm Lightspeed Venture Partners was the
principal investor. The round also included investments from industry
luminaries including Frank Slootman, CEO of ServiceNow; Amit Singh,
president of Google Enterprise; Deep Nishar, SVP of products & user
experience at LinkedIn; James Ramsey, former EVP of sales at NetSuite
and Abhay Parasnis, president & COO of Kony and former SVP of Oracle
Public Cloud, among others.
"At Lightspeed Venture Partners, we carefully select whom we fund
based on superior technology and go-to-market strategy," said Bipul
Sinha, partner at Lightspeed Venture Partners. "Business Analytics is
a space in which we have historically had significant success and
continue to maintain a deep focus. We chose to invest in Numerify
because of the exceptional caliber of its leadership team and its
truly unique approach to addressing a problem that most companies
will confront with increasing urgency: how to continue to deliver
reliable insights to their business users in the face of the new data
fragmentation caused by their increasing adoption of SaaS operational
"Companies that adopt SaaS based applications also need analytic
solutions that span these sources and provide unified metrics across
customers, suppliers, products and employees," said James Ramsey,
former EVP of worldwide sales and distribution at NetSuite.
"Numerify's pioneering approach to providing such end-to-end
visibility to business managers empowers them to leverage analytics
effectively to successfully fulfill corporate objectives."
"Business analytics applications need to deliver actionable
intelligence across sources and over time," said Amit Singh,
president of Google Enterprise. "Numerify's unique platform-driven
approach holds the promise of dramatically altering the economics of
building, deploying and managing such business analytics applications
in the cloud, thus unlocking the full power of the SaaS delivery
model for IT and business users alike."
Numerify was co-founded by industry veterans from Oracle, Microsoft,
IBM, MicroStrategy and Hyperion and is currently in stealth mode. The
company has assembled a seasoned team with a strong pedigree and
exceptional track record of designing, building and launching some of
the most successful and iconic products in the history of Business
Intelligence (BI), Enterprise Performance Management (EPM) and Data
"I am excited about the extremely talented team we've assembled to
bring this vision to life and help 'Numerify' businesses worldwide,"
added Srikant Gokulnatha, co-founder and VP of products at Numerify.
Numerify is re-imagining business analytics by
allowing decision makers to rapidly get to the meaningful numbers
they need to reliably measure and effectively manage their businesses
in the age of the cloud.
Founded in 2012, Numerify is headquartered in Cupertino, CA and
backed by leading Silicon Valley venture firm Lightspeed Venture
Partners as well as several industry luminaries. Visit Numerify at
http://www.numerify.com and join the conversation at @numerify.
Kulesa Faul for Numerify
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