SaaS Business Intelligence Market Heats Up with Chart.io Series A Financing

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SaaS Business Intelligence startup, Chart.io, raises $3.15M in a Series A financing, led by Avalon Ventures.

Chart.io, a Y-Combinator-backed startup, secures $3.15M in a Series A round led by Avalon ventures with Bullpen Capital participating. Rich Levandov will be joining the board. This round brings the company’s total funding to $4.38M. Founded in 2010, Chart.io is disrupting the massive Business Intelligence market by delivering easy-to-use analytics in the cloud.

“The business intelligence space is dominated by expensive, legacy tools from companies like IBM and SAP that take ages just to get deployed,” said CEO David Beyer. “And worst of all, these tools are just so hard to use that only a select few actually know how. We designed Chart.io to be up and running with customers in under a day and to be so easy to use that anyone in a company can explore and understand their business data.”

Described as “Google Analytics for Business Data,” Chart.io connects to your internal databases and lets anyone in a company easily create real-time visualizations of important business data. The company plans to support the important data companies rely on: SQL databases, e.g., MySQL, PostgreSQL, Oracle; web services, e.g., Salesforce, Zendesk; and NoSQL data sources, e.g., MongoDB, CouchDB. “Ultimately, our goal is to help businesses make better, data-driven decisions,” said Beyer.

About Chart.io

Co-founded in 2010, Chart.io is an emerging cloud business intelligence platform. Its flagship product, described as “Google Analytics for Business Data,” helps companies analyze and track their critical data in real time.

About Avalon Ventures

Avalon Ventures is an early stage venture capital fund focused on information technology and life sciences. The most recent fund, Avalon IX, raised $200M on the heels of a successful 30 year tradition. Its recent successes include an early stage investment in social gaming giant, Zynga as well as Cloudkick and Pictella's acquisitions by Rackspace and AOL, respectively.

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David Beyer
dbeyer@chart.io
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