Periscope Data, the industry’s first data analysis platform designed specifically for data scientists, announced that it has secured a $9.5M Series A funding round led by DFJ and unveiled it’s platform that enables data scientists to run analyses on SQL-based databases 150X faster than any other solution on the market. The company also announced that Josh Stein, partner at DFJ, has joined the Board of Directors. Early investors in Periscope Data include Google Ventures and SV Angel as well as angel investors Marissa Mayer and Ellen Pao. Periscope Data will use the investment to expand its sales team and accelerate its marketing efforts.
Data science is now core to every business, but data sets have gotten so large that the ability to quickly make sense of critical business data has become a barrier for companies making important day-to-day decisions. With Periscope Data’s new platform, data scientists no longer have to wait hours for complex analyses to complete, and are able to quickly investigate critical business issues and recommend strategic changes with unmatched speed and performance.
Like software, data science is eating the world,” said Josh Stein, partner at DFJ. “The best companies recruit and retain data scientists to analyze and optimize their businesses. To be most effective and competitive, these data scientists need the best tools and the fastest platforms, and are embracing Periscope Data. Tom and Harry have built an amazing product and company that is rapidly expanding its customer base and growing quickly, with very strong revenue traction. We believe Periscope has the potential to be a large and enduring company.”
With speed being a major part of Periscope Data’s value to customers, the company is using Amazon Web Services (AWS) to provide customers with unparalleled query speeds to ensure the best possible performance. Using Amazon Redshift, Periscope Data is able to offer its customers the ability to maintain accurate and fresh customer data in the AWS data warehousing service while also automatically rebalancing and optimizing Amazon Redshift clusters for peak performance.
We started Periscope Data because we believe that data scientists will be fundamental to the success of the next generation of great companies,” said Harry Glaser, co-founder and CEO of Periscope. “Our product is designed to enable data scientists to do their best and most important work. We’ve begun this mission by building a platform that allows them to run, save and share graphs from SQL queries 150X faster than was previously possible, thanks in part to our work with Amazon Redshift.”
With more than 200 customers, including The American Red Cross, The Climate Corporation, Tough Mudder, Unity and ProductHunt, Periscope Data has increased revenue by more than 10X in the past year, with over 85% of customers using the product every day, a percentage that is growing over time.
Periscope Data enables our data team to provide instantaneous data-driven support for strategic business and product decisions, as well as actionable intelligence for our operations and marketing teams,” said Ryan Petersen, co-founder and CEO of Flexport. “Periscope Data provides us with a single authoritative visualization layer on top of all of our disparate sources of data, enabling Flexport to take a data-driven approach to disrupting the international logistics industry.”
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