Panoply.io raises $7M Series A for its data analytics and warehousing platform

Panoply.io, a startup that wants to make setting up a data warehousing and analytics infrastructure as easy as spinning up an AWS server, today announced that it has raised a $7 million Series A round led by Intel Capital, with participation from previous investor Blumberg Capital. This follows Panoply’s $1.3 million seed round from late last year.

“It’s remarkable that what once required teams of engineers can now be accomplished with a click,” said Yaniv Leven, Panoply’s co-founder and CEO in today’s announcement. “With Panoply.io, complex tasks like schema building and altering, data mining, complex modelling, scaling, performance tuning, security, backup and more are all handled by an array of machine learning algorithms.”

The Tel Aviv- and San Francisco-based company says setting up a full-stack analytics infrastructure using technologies like Kafa, Spark and Amazon Redshift should take less than 15 minutes. Indeed, one of Panoply’s differentiators, in what is becoming an increasingly crowded field, is that the team is putting a strong emphasis on ease of use. There’s nothing easy about setting up a full data warehousing and analytics service, after all, so Panoply handles the modeling and scaling for its operators. In addition, the service can also handle data transformations and other common tasks.

The service is currently in closed beta, though, but the team expects to open up the service for a wider beta by the end of the summer.

“Apart from our SF presence, the funding will allow us to significantly invest in our BI and data integration partnerships, as well as offer Panoply.io across other major cloud providers like Azure, Google Cloud Platform, and more,” said Leven. “It’s all about solving the labor-and-time-intensive issues for engineers who really need to focus on more important things.”

Source: TechCrunch