Incorta scores $120m in its Series D to meet rising demand for its services

Unified data analytics platform Incorta has scored $120m in its Series D funding round, which

Prysm Capital served as the lead investor, with commitments also coming from GV, Kleiner Perkins, M12, Sorenson Capital, Telstra Ventures, Wipro Ventures and Ron Wohl. First time Incorta backer, National Grid Ventures, also joined the round.

The Series D round also included a credit line from Silicon Valley Bank.

With the close of the round, Incorta hopes to bolster its go-to-market operations and meet the global demand for its services.

Incorta offers a unified data analytics platform to help companies acquire, enrich, analyse and act upon business data with improved speed and insights. Its platform, which is powered by direct data mapping, is capable of transforming tens of billions of rows of data across multiple sources databases analytics-ready within minutes, it claims.

This investment comes after a year of strong growth for the company. Over the past 12 months 60% of its new revenue growth came from organic expansion with existing customers, 14% of which are Fortune 500 companies.

Its growth in 2020 also included partnerships with  Microsoft Azure, Google Cloud, eCapital and Tableau. It also bolstered its footprint across North America, the Middle East, UK and Japan.

Incorta CEO Scott Jones said, “The unprecedented events of the past year highlight the importance of modern data analytics in today’s business environment – platforms and tools like Incorta that deliver data to users directly without costly systems and processes like data warehousing and ETL severely limiting speed and agility.

“After hitting a major inflection point in 2020, Incorta is now scaling fast to meet global demand for modern data analytics in the cloud. This funding enables us to scale up while staying true to Incorta’s DNA and maintaining our best-in-class innovation, quality and customer obsession. We are also thrilled to welcome Prysm and National Grid to the Incorta family, joining our already world-class investors.”

The FinTech company has raised a total of $195m in total funding.

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