Panoply expanded Series A funding to a total of $13 million.
The latest to join the round is C5 Capital with a $5M infusion. The firm joined the company’s existing investors Intel Capital, Blumberg Capital and 500 Startups. The additional funds underscore continuing investor confidence in the Panoply Smart Data Warehouse.
The new funds support aggressive acceleration of sales, marketing and product roadmap advancement for the company’s ETL-less smart data warehouse that expedites the journey of migrating raw data to analytics using machine learning and natural language processing. The additional funding will allow Panoply to execute strategies to meet and exceed the demands of today’s big data revolution, including expanding the engineering team at an exponential rate to scale with customer demand
“Panoply has one of the most advanced and transformative platforms in the big data segment,” said Marcos Battisti, Managing Partner at C5 Capital. “The company’s state-of-the-art platform positions Panoply to take advantage of the growing demand for evolving data solutions that reduce development time and are adaptive to business requirements and scalability needs.”
Panoply also bolstered its senior management team with the appointment of Michael Canon as VP of Worldwide Sales, and Paul Friesen as VP of Marketing.
With more than 20 years of experience exceeding growth expectations, Canon most recently served as head of enterprise sales at New Relic, in addition to VP of worldwide sales roles at Sauce Labs and BigPanda.
Friesen previously served as VP of Marketing for Algolia and head of marketing for Atlassian before joining Panoply. He has additional experience with Intel and with two of his own product marketing companies.
“While speed and cost remain pivotal to the 40-year evolution in data warehousing technologies, automated self-optimizing technology is the major advancement organizations must consider to remain competitive in any market,” said Yaniv Leven, CEO, Panoply. “Michael’s and Paul’s market knowledge and leadership, coupled with the additional funding, guarantees Panoply’s technology reaches any company looking for greater user access to real-time data insights.”
Panoply also welcomed Moisey Uretsky, co-founder and Chief Product Officer at Digital Ocean to the company’s advisory board. Responsible for driving product vision at DigitalOcean, Uretsky’s laser focus on simplifying web infrastructure and building a product that developers love is perfectly aligned with Panoply’s mission, technologies and markets.