The biggest tech companies have put a lot of time and money into building tools and platforms for their data science teams and those who work with them to glean insights and metrics out of the masses of data that their companies produce: how a company is performing, how a new feature is working, wh…
The biggest tech companies have put a lot of time and money into building tools and platforms for their data science teams and those who work with them to glean insights and metrics out of the masses of data that their companies produce: how a company is performing, how a new feature is working, when something is broken, or when something might be selling well (and why) are all things you can figure out if you know how to read the data.
Now, three alums that worked with data in the world of Big Tech have founded a startup that aims to build a “metrics store” so that the rest of the enterprise world — much of which lacks the resources to build tools like this from scratch — can easily use metrics to figure things out like this, too.
Transform, as the startup is called, is coming out of stealth today, and it’s doing so with an impressive amount of early backing — a sign not just of investor confidence in these particular founders, but also the recognition that there is a gap in the market for, as the company describes it, a “single source of truth for business data” that could be usefully filled.
The company is announcing that it has closed, while in stealth, a Series A of $20 million, and an earlier seed round of $4.5 million — both led by Index Ventures and Redpoint Ventures. The seed, the company said, also had dozens of angel investors, with the list including Elad Gil of Color Genomics, Lenny Rachitsky of Airbnb and Cristina Cordova of Notion.
The big breakthrough that Transform has made is that it’s built a metrics engine that a company can apply to its structured data — a tool similar to what Big Tech companies have built for their own use, but that hasn’t really been created (at least until now) for others who are not those Big Tech companies to use, too.
Transform can work with vast troves of data from the warehouse, or data that is being tracked in real time, to generate insights and analytics about different actions around a company’s products. Transform can be used and queried by nontechnical people who still have to deal with data, Handel said.Transform launches with $24.5M in funding for a tool to query and build metrics out of data troves View Story