The business, which has received a total of $195 million since its creation in 2014, plans to utilise the money to increase its go-to-market operations and satisfy the demand for its unified data analytics platform around the world.
In addition to a credit facility from Silicon Valley Bank with participation from new investor and strategic partner National Grid Ventures, the round was led by Prysm Capital and included existing investors GV (formerly Google Ventures), Kleiner Perkins, M12 (formerly Microsoft Ventures), Sorenson Capital, Telstra Ventures, and Ron Wohl.
The principal investor was Prysm Capital, and other contributions came from GV, Kleiner Perkins, M12, Sorenson Capital, Telstra Ventures, Wipro Ventures, and Ron Wohl. National Grid Ventures, a new Incorta backer, also participated in the financing. The FinTech business has raised $195 million in total.
Silicon Valley Bank provided a credit line as part of the Series D financing as well. This investment follows a year of rapid expansion for the business. 60% of its net revenue growth over the previous 12 months has come from organic growth with current clients, 14% of whom are Fortune 500 organisations.
“Incorta is currently scaling quickly to meet the global need for modern data analytics in the cloud after reaching a significant inflection point in 2020. With the help of this finance, we are able to grow while keeping the core values of Incorta, including our commitment to excellence in innovation, quality, and customer focus. Along with our other top-tier investors, we are thrilled to welcome Prysm and National Grid to the Incorta family.
About Company
Incorta is a unified data analytics platform that offers businesses unrivaled speed, simplicity, and insight when acquiring, enriching, analysing, and acting upon business data. With the help of Direct Data MappingTM, Incorta can instantly turn tens of billions of rows of data from numerous source databases analytics-ready. The platform offers straightforward yet effective tools for individuals and teams to freely explore, enrich, and experiment with data. It is designed for both experienced users and newcomers.
This investment round’s lead investor, Prysm Capital, specialises in developing businesses in the technology, consumer, and healthcare industries. It is committed to assisting business owners in creating innovative, market-leading organisations.
“Companies have a rising need to get insight and make decisions from data with speed and agility,” said Muhammad Mian, Co-Founder & Partner at Prysm Capital.
An unstable and changing commercial and technological environment is propelling Incorta’s growth and expansion. It is getting harder for businesses to negotiate volatility and manage risk because they are stuck on old data analytics methods and attitudes, and these weaknesses are becoming impossible to ignore.
Only Incorta’s unified data analytics platform uses Direct Data MappingTM. The platform offers unequaled speed and visibility and was specifically developed to assist businesses in staying ahead of the increasing amount, complexity, and speed of modern enterprise data. Because Incorta was developed using open standards and connects with cloud-friendly tools and platforms, it’s simple to combine data in the cloud and derive useful insights.
Growth equity company Prysm Capital collaborates with top-tier management teams and business owners that are creating revolutionary and generational businesses in the technology, consumer, and healthcare industries. Prysm assists management teams in reaching their next stage of growth with a long-term and company-first mindset.
Conclusion
“Incorta provides this mission-critical solution with a differentiated offering. “Prysm is thrilled to work with an amazing management team to support the growth of a product that is at the confluence of three desirable long-term trends: the explosion of data, the digital and cloud revolution, and business intelligence modernisation.
Faqs
Ans. Prysm Capital headquarters is in Princeton, New Jersey, United States.
Ans. Prysm Capital is in the venture capital & private equity sector.
Ans. Incorta is purpose-built for acquiring, processing, analyzing, and presenting business application data.
Ans. Incorta is located in San Mateo, California, United States.
