In-Q-Tel-Backed Platfora Gets $38M in Venture Capital; Ben Werther Comments

big data2A big data analytics company funded by In-Q-Tel has received a $38 million investment in the latest round of venture capital from firms such as Tenaya Capital, Citi Ventures and Cisco (NASDAQ: CSCO).

Platfora now has $65 million in total financing and intends to further bring big data analytics technology into a “fact-based economy, ” the company said Wednesday.

While intuition is critical in business, business executives readily admit that they are still making too many gut decisions because they cannot adequately access or analyze all of their data to make better informed decisions, ” said Ben Werther, Platfora CEO.

Platfora’s analytics platform is built to help translate customer interaction, transaction and machine data into business intelligence for fact-based decision-making.

“We believe Platfora’s unique intellectual property and its ability to help any company unlock new business opportunities from their data assets will resonate in the market, ” said Brian Paul, managing director at Tenaya Capital, which led this round’s funding.

Platfora again received funding from In-Q-Tel, the non-profit venture capital arm of the CIA, which first invested in Platfora in 2011.

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