SEATTLE, June 28, 2012 /PRNewswire/ -- Context Relevant (www.contextrelevant.com) announced today it raised $1.3 million in seed funding, which will be used to accelerate the development of its Flexible Analytics and Statistics Technology™ (FAST). Madrona Venture Group (www.madrona.com) — which has a long history of backing successful technology companies such as Amazon.com and Isilon Systems —led the round. Notable angels, including Geoff Entress and members of the founding team of Swype (now part of Nuance), including Mike McSherry, Cliff Kushler and Mark Illing also invested.
Although Big Data represents an enormous opportunity for enterprise, its sheer volume — which is growing exponentially — coupled with the acute shortage of data scientists is preventing businesses from capitalizing on this massive opportunity. Context Relevant's FAST system unlocks the potential of Big Data by empowering enterprise analysts with capabilities that—until now—required a large, highly skilled and expensive team of data scientists. Context Relevant customers are able to easily weave together large and disparate data sources and to ask questions and get answers in seconds that before required days or even weeks.
"Analysts need answers to their queries in the time it takes to take a sip of coffee, not the time it takes to go make another pot of coffee, go to lunch, or get a good night's sleep," said Darren Vengroff, Chief Science Officer for RichRelevance (www.richrelevance.com) and member of the Context Relevant Customer Advisory Board. "This kind of interactivity is where insights come from, and it's a critical part of what separates Context Relevant from the big data analytics pack."
In connection with Madrona's investment, Context Relevant also welcomed Tim Porter, one of Madrona's Managing Directors, to its Board of Directors.
"Context Relevant has attracted a world-class team of data scientists who know first hand the limitations of the current Big Data products in the market. We know that competing solutions are difficult, costly and time-consuming to implement," said Stephen Purpura, Context Relevant CEO and Co-Founder. "We are thrilled to have such a knowledgeable group of investors supporting our efforts to dramatically simplify and speed our customers' ability to extract value from their Big Data."
About Context Relevant:
Context Relevant is a leader in Big Data analytics. Whether a company is struggling to find and hire data scientists or wants to make its existing team more efficient, Context Relevant reduces risk, simplifies data handling and adds the capability to systematically turn an organization's Big Data into a competitive advantage. For more information please call +1-800-980-DATA or visit: www.contextrelevant.com.
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SOURCE Context Relevant