Reltio looks to provide effective data management
By Cassandra Balentine - Software Magazine
Full article at http://www.softwaremag.com/enterprise-class-data-driven/
The ability to react intelligently to business data drives a new era of enterprise-class applications. Reltio is a modern data management company that provides data-driven applications.
Found in 2011, the company has grown from a startup to a worldwide business of more than 50 employees with locations in Silicon Valley, Russia, and India. While they declined to disclose exact numbers, it reports revenue in the millions.
In a recent announcement, Reltio proclaimed that after reaching profitability, it is taking its first round of venture capital funding with a $10M Series A funding from Crosslink Capital and 406 Venture. Simultaneously, the company launched the general availability of its signature offering, Reltio Cloud.
Ramon Chen, VP, Reltio, notes that the company name is derived from word “relationships.” “Reltio Cloud brings data together across diverse sources—from inside to outside the enterprise—to uncover relationships between people, products, organizations, locations, vendors, and more,” he says.
The company’s goal is to accelerate and improve the effectiveness of business decisions and operations through data-driven applications that business users, such as sales, marketing, and compliance professionals—rather than data scientists—can use every day. This means going beyond standalone Hadoop and big data analytic tools, data lakes, and siloed master data management processes.
The Reltio Cloud
Reltio Cloud, the company’s signature offering, delivers data-driven applications to frontline business users, such as sales, marketing, and compliance teams. The solution also features a modern data management foundation with built-in master data management, big data scale, and the ability to manage various data types through a data-as-a-service platform.
Reltio cloud was conceived in July 2011 and was made available to early customers in 2013. It is now available for general availability. “Reltio Cloud has been available and developed in production at several customers in healthcare and life sciences, implemented for a variety of business use cases including affiliation management, product intelligence, regulatory compliance, customer and organization master, thought leader management, as well as being used for multi-billion dollar mergers and acquisitions,” says Chen. “With little fanfare and marketing, Reltio has been able to mature an enterprise-class platform, which is now officially being launched as part of the first round of venture capital funding.”
Because it is a flexible solution, business and IT users can use Reltio across many industries. However, the company currently sets its focus on healthcare and life sciences, retail and distribution, and oil and gas industries. “With this focus, Reltio has developed significant data provider and system integrator partnerships to better serve the needs of their customers. Reltio’s software as a service approach makes it equally friendly to small emerging companies as well as the Fortune 500,” says Chen.
Its competitors include traditional data management companies, such as IBM, Oracle, SAP, and Informatica. Competitors also include any legacy, process-driven application vendors that are designed for single purpose and audience, such as customer relationship management and enterprise resource management.
Reltio is delivered through a multi-tenant cloud, which Chen says enables the companies to get up and running much faster than traditional offerings. “Business users gain access to data in days or weeks, as opposed to months or years,” he offers. “This is in stark contrast to legacy data management solutions that keep data siloed in the back office and can only feed legacy systems and data warehouses.”
Reltio’s data-driven applications are designed to offer ease of use within in a single solution that provides both analytical and operational functionality. The solution is designed to merge data management and applications. “With Reltio, IT no longer needs a separate master data management systems, nor invest in a big data infrastructure like Hadoop. Business users get applications that deliver recommended actions focused on their day-to-day business goals, as compared to analytic tools that only data scientists can use,” says Chen.
In the next fiscal year, Reltio plans to continue to grow its business by ensuring customers success and delivering new product innovation on the Reltio Cloud.