Investors have funneled $17 million into the coffers of Zoomdata, a Reston-based data analytics and visualization company, which executives said will be used to expand product development and increase sales efforts.
“It’s really helping us take our technology to market in a real way,” founder and chief executive Justin Langseth said. “We haven’t done any marketing at all and up to this point we have had one and a half sales people.”
Zoomdata’s technology builds on the big data phenomenon that has gripped just about every industry in recent years. Companies have more information at their fingertips than ever before about their own internal operations as well as their customers’ behavior.
Zoomdata allows analysts to parse through the vast volumes of data for the insights they most need, then present that information in charts and graphs so that even the least tech savvy can make sense of it.
“The way humans are interacting with computers is changing and the way people are storing data is changing, so it seemed like a good opportunity to jump in with a good team and build the technology out for the next generation,” Langseth said.
The company’s true differentiator, Langseth said, is a patented technology that takes a user’s search query and breaks it up into smaller queries. That allows Zoomdata to process large volumes of data faster and present users with their results more quickly.
That caught the attention of Jake Flomenberg, a general partner at Accel Partners.
“We quickly realized that the Zoomdata team is going to revolutionize the speed and ease of how users consume and interact with data,” Flomenberg said in a statement.
“The world of analytics ranges from the business user who understands Excel to the most advanced predictive learning experts,” Flomenberg added during an interview. “The larger chunk of the market today is absolutely the business user. That’s squarely who Zoomdata is targeting.”
Accel Partners, a Silicon Valley firm whose past investments include Facebook, Spotify and Dropbox, led the most recent round. Other participants include B7, Columbus Nova Technology Partners, New Enterprise Associates and Razor’s Edge Ventures.
Zoomdata has raised $22 million to date and counts 50 employees.
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