Real-time data analytics startup Incorta raises $15M Series B led by Kleiner Perkins
Incorta, the startup that wants to speed up big data analytics by eliminating the need for data warehouses, has raised a $15 million Series B led by new investor Kleiner Perkins.
Context & Ripple Effects
This round caps a fast 2017 for Incorta: just six months after its $10M Series A led by GV to ship its "direct data mapping engine," the startup has pulled in a $15M Series B with Kleiner Perkins coming in as a new lead. The pitch — real-time analytics without building a data warehouse — is what both backers are underwriting.
The related coverage shows this was the opening move of a sustained climb rather than a one-off: an extension closed the Series B at $30M, a $30M Series C followed in 2019, and by 2021 a $120M Series D led by Prysm Capital had taken total funding to $195M.
First-order effects
- Incorta gains the capital to scale its direct data mapping engine into enterprise deployments, with Kleiner Perkins joining GV on the cap table as a new lead investor.
- Kleiner Perkins adds a data-infrastructure bet to its portfolio at a moment when eliminating the data-warehouse layer is still a contrarian architecture.
Second-order effects
- Strategic money follows the thesis: within a year Microsoft's VC arm M12 and Telstra Ventures extend the same Series B, signaling cloud vendors see value in a challenger to conventional warehousing stacks.
- Incorta's 'skip the warehouse' positioning forces enterprises evaluating analytics projects to weigh a direct-mapping alternative alongside incumbent warehouse vendors, pressuring the latter's project economics.
Third-order effects
- If the pattern holds — each successive round larger than the last through 2021 — enterprise data analytics consolidates around heavily capitalized startups attacking the traditional warehouse from below, with corporate VCs increasingly embedded in the cap table.
- The arc from a $10M Series A to $195M raised illustrates how infrastructure-challenging architectures get funded across multiple vintages of investors before their market position is proven.
The trend: Enterprise data-analytics startups are riding steadily escalating venture rounds as they position direct-mapping architectures against the traditional data warehouse.