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Big Data Firm BloomReach Raises $25 Million From Venture Capitalists
What is Big Data and why is it being talked about so much?
Big Data is the name given to collected data which is too complex to sort out by usual computing methods. The adoption of the Internet and the cloud have given rise to complex data which is badly in need of analysis. Since this is a new trend, specialized analytical companies are required which can tap into the complex datasets and gain some meaningful inferences out of them.
BloomReach is a 3 year old Mountain View based company which has been founded by former Cisco employee Raj De Datta and former Google scientist Ashutosh Garg. The Economic Times has reported that the company has recently received a Series C funding from multiple investors with New Enterprise Associates leading the funding round. Previous investors Bain Capital and Lightspeed Ventures also participated in this funding round. The company has been reported to raise $25 million in this funding round. That brings total investment in the startup to about $41 million. This is some serious cash and the company is not yet profitable.
The company will be using the funding to aggressively find the best people who will help it expand its operations worldwide, according to Ashutosh who is CTO of the company. The company currently services US clients even though their core development team is based in Bangalore. The company has plans to enter India by next year. This is rather tentative but Ashutosh confirmed to ET that they are looking at India as a focus group. The company’s international clients include retail biggies like Neiman Marcus, Williams-Sonoma and Crate & Barrell.
A CRISIL and Nasscom report predicts that the Big Data market is estimated to reach $8 billion this year. This is as of now still an untapped market in the country. Big data will soon gain much more prominence in this country due to the projected increase in Internet, mobile Internet and cloud adoption. The analytics provided by Big Data companies could be valuable for brands on the Internet to look into trends and predictions for their brands. The advent of Internet has brought with it better and verifiable analytics, which is a great thing for marketers and advertisers.
What are your thoughts on Big Data? Share them with us.
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2012-10-19 19:09:26
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