May 12, 2011 - Big data predictive analytics developer Alpine Data Labs got a $7.5 million funding boost this week, at the same time as it announced entry to the market after 15 months of product development of the Big Data Predictive Insight solution.
The San Mateo, Calif. startup aims to use big data to more accurately predict events, according to the company news release. Alpine claims 10 customers so far, and its Series A investors include Sierra Ventures, Mission Ventures and Sumitomo Corporation Equity Asia.
Alpine Data Labs CEO Anderson Wong indicated in the release that with this investment, they plan to aggressively expand execution in the U.S. and into China, which they see as the two largest markets for predictive analytics. The funding will be used to help Alpine Data Labs increase staff and accelerate product development and sales.
Wong co-founded the company in 2010 after serving as general manager at Greenplum, where they credit him as responsible for successful entry into China’s market. Wong also served in a variety of management positions at IBM and Sun.
Julie Lockner, senior analyst and vice president, data management, Enterprise Strategy Group, Inc. points out that companies with a large data set and a large amount of people trying to glean value have problems getting answers they need. “If you’re not organized with how you manage the analytics processes, you have a lot of people who come up with their own ideas, without a process,” she says.
Alpine Data Labs approach accelerates the process for gleaning data and simplifies it, Lockner says. “So you don’t need three PhD degrees and a staff of data scientists to get information,” she says.
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