Philadelphia, PA (PRWEB) May 15, 2013
RJMetrics, a rapidly-growing hosted business intelligence provider, today announced it has closed $6.25 million in Series A funding led by Trinity Ventures with the participation of current investor SoftTech VC. Karan Mehandru, Principal at Trinity Ventures, has joined the board.
RJMetrics, which today serves over 130 clients across five continents, will use the funding to increase its marketing efforts as well as aggressively grow its sales and customer success teams. The company will also use the funding to enhance its product offering. It is hiring aggressively to pursue these goals.
RJMetrics provides sophisticated analytical capabilities for online businesses in industries such as retail and SaaS. Forrester estimates the U.S. eCommerce industry at $262 billion in 2013, growing by 13% per year, and the global SaaS industry at $59 billion in 2013, growing at 25% per year.
“The demand we’re seeing for integrating and analyzing all types of data is growing faster than ever,” said Robert J. Moore, CEO. “Our platform allows customers to quickly and easily integrate their data from whatever platforms they choose and run advanced analytics like Customer Lifetime Value and Cohort Analysis.”
Gartner estimates that Business Intelligence is a $13.8 Billion market today, and will grow to $17 Billion by 2016.
“Businesses of all sizes are increasingly making use of software delivered via the cloud to run core business functions. With all of this data housed in third-party platforms, data integration, warehousing, and reporting become more important than ever,” said Karan Mehandru, Principal, Trinity Ventures. “Business intelligence delivered via the cloud enables businesses to make smarter decisions on shorter cycles with less technical overhead. We’re thrilled to partner with RJMetrics by funding the next phase of their growth.”
“RJMetrics has been a critical ingredient to our growth over the past two years,” says Jason Goldberg, CEO of Fab.com and RJMetrics seed investor. “The platform has enabled our team to run sophisticated analyses for customer acquisition and retention that have become the cornerstones of our unit economics.”
RJMetrics is a hosted business intelligence platform for online businesses. It provides analysis of customer purchases, user activities, product merchandizing and more.
The RJMetrics Dashboard provides business users with a simple, web-based interface to drive growth through smarter decision-making. Through its Data Warehouse API, RJMetrics offers a complete Data Warehouse as a Service (DWaaS) solution, giving companies plug-and-play access to enterprise-class data warehouse functionality.
Founded in 1986, Trinity Ventures is a boutique, early stage venture capital firm dedicated to partnering with passionate entrepreneurs to transform revolutionary ideas into reality. With over $1 billion under management, Trinity Ventures believes in personal engagement, mutual respect and goal alignment with entrepreneurs. Trinity focuses on early stage and seed technology investments with particular emphasis on social commerce and entertainment, digital media, Saas, and Cloud.
Trinity Ventures has invested in more than 100 ventures, including such leading companies as 21Vianet, Affinity Labs, Aruba Networks, BeachMint, Bix, Blue Nile, Crescendo Communications, Extreme Networks, Forte Software, Infoblox, IntruVert Networks, KIXEYE, LoopNet, Modulus Video, Network Alchemy, Photobucket, SciQuest, Speedera Networks, Starbucks, Sygate Technologies, Trion Worlds, Wall Data, and Zulily.
Director of Marketing, RJMetrics