Reltio Raises $10M Series A Funding, Introduces Reltio Cloud
Enterprise-class data-driven applications unveiled by master data management (MDM) veterans to meet healthcare, life sciences and other complex industry challenges
Businesses gain competitive advantage by getting reliable data, relevant insights and recommended actions faster; significant advance from existing MDM, BI, big data analytics and packaged applications
Palo Alto, CA – March 16, 2015 – Reltio, the enterprise data-driven applications and modern data management company, founded by the team behind Informatica MDM, today officially entered the market with the announcement of Series A funding in the amount of $10 million from Crosslink Capital and .406 Ventures, as well as the general availability of its signature offering, Reltio Cloud.
“Data is the new natural resource, but it’s truly valuable only when it’s effectively mined, related and transformed into insight with business actions that can be taken within the context of day-to-day operations,” said Manish Sood, founder and CEO of Reltio. “With Reltio, data is collated and analyzed for actionable intelligence with the speed needed to support innovation and spark new revenue streams. IT gets a modern data management platform while business users get easy to use data-driven applications to address their everyday needs.”
Reltio accelerates and improves the effectiveness of business decisions and operations through data-driven applications that business users such as sales, marketing and compliance professionals—rather than just data scientists—can use every day. Being truly data-driven requires going beyond standalone Hadoop and big data analytic tools, data lakes, and siloed master data management processes. Data-driven business applications offer a competitive advantage by uncovering data relationships to improve end-user productivity across the enterprise in the face of mounting data volumes and variety while reducing cost and complexity.
The market has taken notice: Reltio already has several marquee customers and industry data and solution partners. It has also been named a Gartner Cool Vendor in 2014. Already profitable, Reltio will use the venture funding to accelerate product development, as well as expand sales and marketing initiatives.
“Our unique approach and value proposition received significant interest from the venture community,” Mr. Sood noted. “Crosslink Capital and .406 Ventures make the perfect partners—they share and support our vision, and we look forward to collaborating with them as part of their portfolio of innovators.”
“The data-driven applications and data management market is exploding, and Reltio is poised to play a major role,” said Jim Feuille, partner at Crosslink Capital. “Reltio is the first company in this arena to put tailored data-driven applications into the hands of business users, with the data management compliance and discipline that IT requires. We look forward to playing a part in helping the company expand its product offerings, market reach and earnings.”
Reltio Cloud consists of enterprise-class data-driven applications with a modern data management platform, uniquely combining reliable master data, relevant big data insights, and intelligent recommended actions.
Designed for a generation of business users accustomed to the ease of LinkedIn and Facebook, Reltio offers a new breed of enterprise data-driven applications that combine operational and analytical capabilities to manage and act on a complete view of relationships between people, products, places and activities. To accomplish this, Reltio seamlessly fuses multiple data types—including multi-domain master data, transaction and interaction data, third-party assets, and public and social data.
At the core of Reltio’s modern data management platform is the Reltio Commercial Graph. Much like the LinkedIn economic graph and Facebook social graph, this columnar-graph hybrid repository combines, connects and stores an infinite number of attributes and relationships. Reltio also includes data-as-a-service (DaaS) for real-time delivery of third-party, social and public data sources directly into each application.
With Reltio, the end result is data-driven applications that business teams love to use every day, and modern data management that IT can rely on.
Industry Specific Data-driven Applications
Data-driven applications for healthcare and life sciences, oil and gas, retail and distribution, government and more are available directly through Reltio, and partners such as ZS Associates, Cognizant, HighPoint Solutions. Industry cloud-based applications can easily be configured to meet the specific needs of particular verticals.
The unique challenges faced by healthcare and life sciences companies make Reltio data-driven applications ideal for key account management, affiliation management, HCP/HCO management, product data intelligence, plan and payer management, key opinion leader and clinical trial investigator management.
“The life sciences industry continues to face Commercial and R&D challenges that aren’t met by out-of-the-box packaged applications,” said Eric Newmark, program director for IDC Health Insights. “Enterprises need multi-domain data management and data-driven applications to put complete views of profiles and complex relationships across HCPs, HCOs, products and more, directly into the hands of business users across the organization.”
Companies are also using Reltio in other areas, such as to support next-generation Mergers & Acquisitions (M&A) activities. Reltio Cloud can be deployed as a big data platform supporting both structured and unstructured data at any volume and scale; blending multi-domain master data, reference data, transaction, interaction and social data into a single unified view. Companies can not only purchase third-party data sets on demand, but also distribute and monetize the value of their own data through Reltio DaaS. For M&A specifically, Reltio Cloud offers significant advantages by greatly simplifying the way clean rooms are set up and enabled. Rapidly deployed, with granular security and access controls, Reltio Cloud supports pre-merger planning and execution, as well as immediate operational and analytical use post merger.
Answering Market Need
Reltio’s addressable market crosses both application and data management boundaries. Research house IDC estimates that spending on big data and analytics will reach $125 billion in 2015 with DaaS growing in importance as cloud platform and analytics vendors offer clients value-added information from commercial and open data sets. And while 70% of large organizations already buy data from external sources, the number is set to reach 100% in the next four years. Additionally, enterprises are looking at new revenue streams through data monetization by licensing value added content.
This market has grown rapidly in just the past few years, mirroring the spike in the availability of data itself. The more that data continues to grow—from different sources, in different formats, and needing to be accessible via different platforms—the more fragmented the process becomes, making it ever harder to collate, analyze and present relevant and timely information. The importance of managing data that meets both data quality and compliance requirements, in the context of real-time access for business users, has now brought such pressure that some organizations have created the role of Chief Data Officer (CDO).
“In a world of digital transformation, reliable data is the foundation of every business. Organizations must rapidly transform, connect and relate data to surface up relevant insights to drive and democratize decision-making,” said Ray Wang, CEO of Constellation Research. “Customers seek new solutions with a single integrated data management platform so that they can take advantage of data-driven applications for the enterprise.”
Reltio has put in place a management team that brings to the company deep expertise in enterprise applications, master data management and big data analytics, with leadership experience in such respected companies as Informatica, Veeva Systems, Siebel Systems, SAP and IBM.
● Manish Sood, CEO and Founder: Mr. Sood previously led product strategy and management for the MDM platform at both Informatica and Siperian. He is also the co-author of the patent that revolutionized master data management through a global business identifier. Over the course of his career, he has helped develop some of the largest and most widely used data management solutions used by Fortune 100 companies today.
● Anastasia Zamyshlyaeva, Chief Architect: Now heading Reltio's engineering team and technical product architecture, Ms. Zamyshlyaeva has extensive experience in big data and enterprise software architecture, including the design of core components of the Informatica MDM platform.
● Curt Pearlman, VP, Solutions: Mr. Pearlman works with customers to uncover new data-driven applications across industries such as life sciences. He previously held positions in sales consulting with Informatica, Siperian and Siebel. He has worked closely with large customers to create a broad range of CRM and data management solutions.
● Bob More, Senior VP, Sales: Mr. More brings over 20 years’ experience leading sales teams at Kinaxis, Informatica, Siperian, SAP, Unica, Agile Software and Blue Martini. He has a track record of building revenue growth in such competitive domains as MDM, Enterprise Resource Planning, Customer Relationship Management and Supply Chain Management.
● Vasu Vallurupalli, VP, Alliances: Mr. Vallurupalli is responsible for partnerships and business development at Reltio. He has been involved in data management for over 15 years, establishing strategic partnerships at Informatica, Siperian, IBM, Veritas and Symantec.
● Ramon Chen, VP, Marketing: Mr. Chen earlier served as VP of Product Marketing for Veeva Systems, and has over 25 years’ experience running marketing and product management teams at RainStor, Siperian, GoldenGate Software, MetaTV, Evolve Software, Sterling Software and Synon Inc.
Pricing & Availability
Reltio Cloud is available now. For further details on capabilities and pricing, contact firstname.lastname@example.org.
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Reltio delivers reliable data, relevant insights and recommended actions so companies can be right faster. Reltio Cloud combines data-driven applications with modern data management for better planning, customer engagement and risk management. Reltio enables IT to streamline data management for a complete view across all sources and formats at scale, while sales, marketing and compliance teams use data-driven applications to predict, collaborate and respond to opportunities in real-time. Companies of all sizes, including leading Fortune 500 companies in healthcare and life sciences, distribution and retail rely on Reltio. For more information, visit www.reltio.com.
Reltio, Reltio Cloud, Reltio Data-Driven Applications, Be Right Faster are all trademarks or registered trademarks of Reltio Inc. All other names and trademarks are property of their respective firms.
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INDUSTRY RALLIES SUPPORT FOR RELTIO
"Reltio is potentially a market disruptor that's delivering enterprise data-driven applications with built-in master data management. Reltio can significantly increase the value of data by bringing it together to form a single powerful and more complete picture – including complex relationships that are not obvious. By delivering actionable insights and recommendations, such next generation MDM capabilities provide the potential for both internal operating efficiency and new forms of external business models such as data monetization."
- Aaron Zornes, Chief Research Officer, The MDM Institute
“There has always been a gap between traditional data management tools and business user needs and expectations. Reltio has not only eliminated that gap but also addressed both IT and business' most pressing needs in a single integrated solution. Reltio is at the forefront of what we like to think of as ‘consumerization of big data’ with applications that are as intuitive as LinkedIn, with faster business time to value.”
- Dan Power, Founder & President, Hub Designs
"As an investor focused on data and analytics, we’ve reviewed many companies focused on data management, big data analytics, machine learning and industry applications. While these solutions are incredibly strong, they often struggle to deliver value to the business user because they aren’t a full solution. Reltio Cloud is disrupting these technology silos, by providing an end-to-end platform that incorporates the technologies, data and capabilities to connect raw data directly to business value. When applied as a healthcare and life sciences industry cloud solution, Reltio delivers data-driven applications directly into the hands of these organizations’ Sales, Marketing and Compliance teams to enable them to be right faster, and let their people do their jobs better.”
- Graham Brooks, Partner at Boston, MA-based .406 Ventures
“Reltio’s innovative use of Apache Cassandra and big data technologies as the foundation for their Commercial Graph allows them to deliver flexibility, agility and scale. It’s no surprise that the Reltio Cloud can handle an infinite number of data types, sources and ultimately business use cases. At DataStax, we believe that companies like Reltio are only scratching the surface of the potential of Cassandra, and we expect the best is yet to come.”
- Matt Pfeil, Co-founder and Chief Customer Officer, Datastax
“As a core modern data management platform, Reltio is able to manage and uncover relationships across multiple data sources and applications. SnapLogic’s tight integration with Reltio allows information to flow seamlessly to and from Reltio Cloud, allowing business users to take advantage through Reltio data-driven applications and downstream systems.”
- Ediz Ertekin, Vice President, Sales and Business Development, SnapLogic
"Life sciences companies need more than just a 360-degree view of their customers. ZS and Reltio have developed a master data management solution that integrates with Reltio's platform to offer end-to-end, cloud-based data management and stewardship capabilities, reporting and analytics. From establishing strategy to improving affiliation management, ZS has strengthened data management for over 55 Life Science companies. Our 30+ years of experience and ZS's own cloud-based business intelligence solution ─ ARTiS ─ complement Reltio's data-driven applications, forming a unique partnership. Together, ZS and Reltio help clients reduce costs of outdated, time-consuming legacy systems, and unravel complex data hierarchies to better leverage their data for improved customer insights. This can only be accomplished through integrated, modern data management, and analytics that drive faster, smarter decisions."
- Faisal Zaidi, Principal, ZS Associates
“Our joint customers value Reltio’s ability to quickly and cost effectively deliver modern data management solutions for emerging life science and mid-market healthcare companies. Often these companies are looking for, and need, a solution that can be implemented quickly and without a large upfront capital expenditure. The Reltio solution meets these needs and allows customers to efficiently manage data to deliver meaningful analytics and well governed application data.”
- Chris Colapietro, Executive Vice President, Technology & Marketing, HighPoint Solutions
“Data-driven industry-cloud applications represent the future of software. Reltio’s unique combination of reliable master data, relevant analytical insights and intelligent recommended actions form a modern data management platform Knowledgent can use to address many industry problems. Our partnership will bring joint and integrated benefits to IT and business teams across the enterprise.”
- Shail Jain, Co-CEO, Knowledgent
“Reltio’s data-as-a-service represents a ground breaking new capability in life sciences. Allowing life sciences companies to choose the highest quality data that meets their business needs on demand makes them more efficient. MedPro’s partnership with Reltio gives companies a choice across the best available data sources for maximum competitive advantage.”
- Bryan Andrews, Director Sales Operations, MedPro Systems
“Accurate and up-to-date affiliations between HCPs and HCOs have always been a challenge for life sciences companies. When DarkMatter2BD is integrated into Reltio’s data-as-a-service it opens up a wealth of possibilities with data-driven applications to more efficiently manage important thought leaders.”
- Jim Manousos, Co-Founder, Principal & Chief Data Scientist, DarkMatter2BD
Additional industry quotes are included in the press release and online at www.reltio.com/industry-feedback.