Modern Data Management company Reltio’s flagship product Reltio cloud has entered wide availability, and the company has raised a $10 million Series A from Crosslink Capital and .406 Ventures.
Reltio's MDM helps uncover data relationships to improve productivity. Similar to Business Intelligence, MDM provides wider, multi-domain insights, with BI as a subset of MDM. While BI is largely the domain of data scientists, MDM provides insights to more general business users such as sales, marketing, and compliance professionals.
Founded by the team behind Informatica's MDM, the company claims it is profitable and will use the venture capital to accelerate product development and expand sales and marketing.
Reltio consists of data-driven applications and a modern data management platform.
It uncovers relationships through combining operational and analytical capabilities to manage and act on a complete view of relationships between people, products, places, and activities. It fuses multiple data types such multi-domain master data, transaction and interaction data, third-party assets, and public and social data.
Reltio is an example of the commercialization influence on business IT. It said in a statement that it is designed for users accustomed to the ease of LinkedIn and Facebook.
This influence is seen in Reltio Commercial Graph, the core piece of its MDM platform. A columnar-graph hybrid repository combines, connects and stores a large number of attributes and relationships. The company includes data-as-a-service, which provides real-time delivery of third-party, social and public data sources directly into each application.
Data is growing, and our ability to analyze and act on that data is beginning to catch up. The bigger trend in BI and MDM is making data analysis available beyond data scientists. BI provider Looker recently raised funding citing a similar mission.
“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 in a press release. “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.”
Data-driven applications are available for specific verticals such as retail and distribution, oil and gas, and healthcare. They are available either through Reltio or its partners.