Mode Analytics Closes $33 Million To Advance Its Business Intelligence Platform

By Amit Chowdhry ● August 7, 2020
  • Mode Analytics, A leader in advanced analytics, announced that it has raised a $33 million Series D round of funding in order to advance its business intelligence platform.

Mode Analytics, A leader in advanced analytics, announced that it has raised a $33 million Series D round of funding led by H.I.G. Growth Partners along with Valor Equity Partners, Foundation Capital, REV Venture Partners, and Switch Ventures. Including this round of funding, Mode has raised $83 million to date.

With this round of funding, Mode will accelerate its leading analytics platform, which combines the best elements of analytics and business intelligence, data science, and machine learning to empower data teams to answer impactful questions and collaborate on analysis across a range of business functions.

Last year, Mode added a number of premiere enterprise companies to its customer base — which now includes Anheuser Busch, Zillow, Lyft, Bloomberg, Capital One, VMWare, and Conde Nast. Mode was built for collaboration and it features personalized analytics, dashboards, interactive visualization, predictive analytics, advanced analytics and prescriptive analytics.

Unlike traditional business intelligence tools, Mode delivers insights in minutes rather than hours. And it supports any type of analysis without restrictions and provides a workflow that makes it easier to consume data analysis and build upon it.

Since Mode is cloud-based, team members can be connected directly to the source at all times. Anyone with permissions can expand upon the analysis by asking follow-up questions, making data more usable by bringing data to every role.

Mode’s enterprise customers seen faster company-wide innovation by automating all business queries. And in aggregate, Mode has processed 830 million query runs and 170 million notebook cell runs for 300 thousand users.

KEY QUOTES:

“Traditional business intelligence can show what’s happening, but not why. Even at companies with huge investments in self-serve BI, people constantly ask the data team follow-up questions. Making the data team more effective, and making the collaboration between the two groups work flawlessly, is the unmet need that Mode has filled. In doing so, we have laid the foundation for the future corporate knowledge base.”

— Derek Steer, Co-founder and CEO, Mode Analytics

“Mode goes beyond traditional Business Intelligence by making data faster, more flexible and more customized. The Mode data platform speeds up answers to complex business problems and makes the process more collaborative, so that everyone can build on the work of data analysts. We believe the company’s innovations in data analytics uniquely position it to take the lead in the Decision Science marketplace.”

— Scott Hilleboe, Managing Director, H.I.G. Growth Partners