Unified Data Analytics Leader Wraps Up 2021 with Record Customer Growth and Product Innovation; Announces New CFO and Advisory Board Member
SAN MATEO, Calif., Jan. 13, 2022 (GLOBE NEWSWIRE) — Incorta, the Direct Data Platform™, today announced it achieved record company growth in 2021, reporting significant acceleration in revenue growth, unprecedented new and existing customer growth, major global expansion, and continued product innovation. The company also announced the hire of Rob Dillon as chief financial officer and the appointment of Jacques Nadeau, co-creator of Apache Arrow and co-founder of Dremio, to the Board of Advisors. Nadeau brings extensive knowledge and experience in open source software development and community relations, and will help guide Incorta’s future plans for innovation and open source contributions.
“All around the world today, organizations have a newfound appreciation for and urgency around using data not just for driving business performance but also taking care of their employees, customers, partners, and their community as well,” said Scott Jones, CEO of Incorta. “This paradigm shift is giving rise to a new playbook for data analytics that spans technology, people, process, and culture — and unified data analytics platforms like Incorta that can enable high-powered operational analytics are at the forefront of this modernization trend.”
Primed to capitalize on the worldwide market growth opportunity for unified data analytics platforms, Incorta entered 2021 with soaring demand and ambitious plans for growth. In January, the company hired former Alteryx President Scott Jones as CEO to lead its next phase of growth and expansion. In June, Incorta announced $120 million in Series D funding, bringing its total funding to $195 million. With new leadership and funding, the company scaled its go-to-market operations and expanded globally to meet demand for Incorta’s unified data analytics platform (UDAP).
Corporate and Customer Growth
Incorta hit key milestones and experienced rapid growth in 2021, including:
- $120M Series D funding in June 2021, bringing Incorta’s total funding to $195M
- Record growth in revenue, with Q3 and Q4 2021 being the highest-grossing quarters in the company’s history, eclipsing full year 2020 revenue in the six months ending in December 2021 by more than 20%
- +200 new hires, including the appointment of eight executive leaders: Scott Jones (CEO), Rob Dillon (CFO), Darryl Banks (CRO), Greg Peters (CCO), Sheri Kelleher (SVP People), Emily Lewis (VP Marketing), Louise Westoby (VP Product Marketing), and Steve Walden (EVP Business Development)
- Expanding global footprint, with new offices and teams in APAC, EMEA, and North America
Incorta is distinguished by its game-changing Direct Data Mapping™ technology and all-in-one analytics and BI platform that provides an entirely new way to address today’s most complex data challenges. Notable product advancements include:
- The Component SDK for creating custom visualizations and controls using React
- New Data Wizard that provides an easy path to data source creating, data model discovery, and data ingestion with a few clicks
- A completely new Excel Add-in user experience including support for mixed dynamic and static data, formulas, and aggregate tables
- One-click machine learning (ML), time series forecasting and anomaly detection made easy for business users, better than existing solutions with more accuracy, and the ability to recognize seasonality
- Advanced geospatial mapping and analysis
- A 50% improvement in data ingest speeds and increased incremental update frequency
Awards and Accolades
Incorta garnered several significant industry accolades, including:
- “Cool Vendor” in Analytics and Data Science for 2021 by Gartner
- “Trend-Setting Product” for 2021 by DBTA
- “Technology Fast 500” for 2021 by Deloitte (second year in a row)
- “Hot Company to Watch in 2022” by Nucleus Research
Building on the momentum of 2021, Incorta is poised for another year of breakout growth and expansion on all fronts in 2022. This foundation for growth is supported by all-time-high customer validation for the company and technology. Today’s customers include the most valuable company in the world, the largest coffee company in the world, and category leaders in broadband connectivity, streaming entertainment, social media, e-commerce, and retail.
“There is a massive market opportunity for Incorta in 2022 and beyond, as companies look for new ways to create real value for customers and stakeholders,” said Rob Dillon, CFO of Incorta. “It’s no surprise that the focus on data analytics technology is shifting to unified platforms that can help organizations more readily deliver on business outcomes, and Incorta is in a prime position to capitalize on this trend.”
“Data analytics technology is long overdue for a reality check. The traditional ways of enabling analytics on massive, highly normalized schemas — high-maintenance transformations and brittle ETL — just don’t cut it anymore,” said Jacques Nadeau, Incorta’s newest board advisor. “Everyone is looking for faster time to value and Incorta’s unique approach completely redefines what people should expect.”
Incorta disrupts a costly, time-consuming, 30-year analytics process, by providing anyone in the organization with the ability to unlock the full potential of their data within complex source systems. The simplified, all-in-one unified data and analytics platform is built for business agility. It directly maps to the data source, eliminating the traditional data transformations and aggregation steps to deliver all usable data to the business. Backed by GV (formerly Google Ventures), Kleiner Perkins, M12 (formerly Microsoft Ventures), Prysm Capital, Telstra Ventures, and Sorenson Capital, Incorta powers analytics for some of the most innovative brands in the world, including Broadcom, Credit Suisse, and Shutterfly. To learn more and try it for yourself, visit www.incorta.com.
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