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The primary challenge for businesses today is enabling their business users to self-serve complex data analytics. Today, these users depend on prepared dashboards or spreadsheets to answer complex analytics questions for ad hoc analytics.
FREMONT, CA: DataChat, a data analytics software company, closed a $25 million Series A round of financing led by Redline Capital and Anthos Capital. Celesta Capital (previously WRVI Capital) and Nepenthe Capital, which led the previous $4 million seed funding round, also took part.
DataChat addresses a critical issue for businesses: Data collection is simple, but making data-driven decisions is difficult, especially for business users who must respond rapidly to emerging trends in their data.
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"Business data analytics is largely stuck in decades old processes driven by traditional business intelligence tools," Tatiana Evtushenkova, a partner at Redline Capital, stated, "Jignesh and his team have a radically different approach to democratize analytics using a novel conversational paradigm, and they have a compelling vision to dramatically transform the existing analytics ecosystem. We are delighted to have led this round."
The primary challenge for businesses today is enabling their business users to self-serve complex data analytics. Today, these users depend on prepared dashboards or spreadsheets to answer complex analytics questions for ad hoc analytics. The ability to create new, sophisticated analytics workflows using advanced methods such as machine learning is simply out of reach for these business users. DataChat enables these users to self-serve data science by chatting with their all-in-one platform via controlled natural language.
"We were struck by the sheer simplicity of the solution that DataChat has built, abstracting away complex machine learning and collaboration machinery that is needed to realize the full potential in enterprise data," remarked Bryan Kelly, co-founder at Anthos Capital, "We were also impressed by the stellar DataChat team that combines world-class technology creation with a deep customer-empathic approach in everything that they do."
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