Big Data Software Developer Reltio Closes $45 Million Funding Round


Big data platform developer Reltio has raised $45 million in a Series D round of financing, money the Redwood Shores, Calif.-based company plans to devote to accelerating its research and development efforts, fuel its international expansion and ramp up support for global enterprise customers.

The new round brings Reltio’s total financing to $117 million.

"Reltio is now a trusted data foundation upon which the promise of new technologies, such as AI and machine learning, combined with our self-learning graph and other technologies, can truly be realized," said CEO Manish Sood, in a statement. "Credit goes to our dedicated employees, whose laser focus on making our customers and partners successful continues to be the driving force behind our rapid growth."

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Reltio, founded in 2011, markets the Reltio Cloud Self-Learning Data Platform, a platform-as-a-service system that was originally built for master data management and data quality tasks.

But more recently the vendor has been expanding into new areas such as data-driven applications, predictive analytics, artificial intelligence and machine learning.

Reltio Cloud 2018.1, launched in February, melded machine learning with advanced analytics – a move that comes as the line between data used for operational applications and analytical purposes becomes increasingly blurred. In February the company also debuted a new release of its Reltio IQ predictive analysis software.

The latest funding round was led by New Enterprise Associates, which participated in earlier rounds. Other existing investors that participated in the round included Crosslink Capital, .406 Ventures and Sapphire Ventures.

Reltio, as part of the financing announcement, said the company's revenue grew more than 2,500 percent during the last three years and that it doubled its employee headcount in 2017. The company's customer base includes seven of the 10 largest pharmaceutical companies in the world, two of the 10 biggest technology companies and one of the largest healthcare insurance companies.

Reltio works with a number of systems integrator partners, including Accenture and Cognizant, which build data analytics systems and services around the company's platform. Services provider partners like Axtria, GlobalSoft and Slalom offer data-focused consulting services and solutions using Reltio's software.