Datacoral is a San Francisco-based company that has launched a private and secure end-to-end data infrastructure service for data-driven companies. And Datacoral also announced it raised $10 million in Series A funding this week led by Madrona Venture Group with participation from Social Capital.
How does Datacoral work? The company abstracts the pain points of building data products by combining data sources together. Then it organizes those data sources and processes them to extract insights that can be applied to operations, product development, and marketing solutions.
By reducing data infrastructure complexities, Datacoral allows data scientists and business operators to quickly generate insights on a scalable platform. Plus the service works seamlessly with public cloud providers.
“As companies look to their data to deliver value – data practitioners are finding that configuring and managing their own data infrastructure is a time consuming job that is expensive and fraught with errors,” said Datacoral’s founder and CEO Raghu Murthy. “We have built a platform that easily and automatically brings together data from different applications and databases, organizes that data in any query engine and acts on insights that are critical to running their business. A crucial component is that it works securely and privately within the customer’s cloud, instead of us ingesting data from their systems.”
Datacoral’s platform provides a single high-level interface to see how your data is flowing no matter which query engine is being used. And the interface alerts you to data dependency and schema changes that cannot be automatically handled. Datacoral plans to use the new funding round to accelerate product development and invest in sales and marketing initiatives.
“Every company today wants to be data driven and the first step is a scalable data infrastructure. But, data infrastructure is time intensive and costly to build, maintain, and secure. Additionally, as cloud born companies look to data, it is particularly difficult to create an end to end system in the cloud,” added Madrona Venture Group’s Sudip Chakrabarti. “Raghu and his team are uniquely suited to build such a system and have already seen incredible success. We are very excited to work with the team.”
Murthy was an early engineer on the Facebook team that was in charge of scaling the data infrastructure at the company. And Datacoral was developed while Murthy was an entrepreneur-in-residence at Social Capital. Some of Datacoral’s initial customers include Ezetap, Fin, Front, Greenhouse, mPharma, and Swing Education.
“As someone who’s built products all my life, I can’t stress how important analytics and real time insights are to succeeding with customers,” explained Social Capital partner Jay Zaveri. “Datacoral makes a hair pulling exercise around collecting, organizing and utilizing clean, secure and quality data from all kinds of systems really easy. At Social Capital, we know because we use them, to collect all our data to get better insight all from our own cloud. We now can’t work without them.”