Interana, A Faster And Simpler Event Analytics Startup, Raises $20M
Interana, an analytics startup that officially launched in October, has closed a whopping $20 million Series B round. The valuation round was led by Index Ventures, and further included new investors like AME Cloud Ventures, Harris Barton and Cloudera’s Mike Olson. The fundraising round also featured Interana’s existing investors — Battery Ventures, Data Collective and Fuel Capital — from which the company had previously raised $8.2 million.
Interana is an event analytics company, which makes Facebook-style event analytics, as well as providing the same data-centric culture to various companies with lots of event data to analyze. To do this, Interana built an entire system from the ground up, from columnar storage engine to user interface.
The firm was founded by two former Facebook engineers, Bobby Johnson and Lior Abraham, who built some of Facebook’s most-popular internal analytics systems, and Ann Johnson, a former Intel employee. Ann, who is CEO, and Bobby, who is CTO, are married.
Since the company launched, Ann Johnson said that Interana has gauged several new customers and the interest from very large and well-known companies. She realizes that the interest is due part to the lack of products which address event analytics at scale, and data volumes that “are growing faster than many people’s intuitions even tell them.”
The hope for customers is that they query their data regularly and treat Interana’s product like they treat Google’s search engine by asking lots of small questions throughout the day, she added.
A good analytics practice is to make the interface as easy and compelling as possible, so that they don’t just look at the big picture of their data, but can ask as many questions as they like while drilling down the big insight. “Anything that should be answered by data should be,” Bobby Johnson said. That way, people can spend their time worrying about other stuff.
However, if you think this just another complex system based on Hadoop, you’re wrong. Hadoop is used widely by banks, retailers and many other organizations to gather mounds of uncategorized data from various digital sources. The technology has been held back by limitations such as speed, which isn’t fast enough to react immediately to transactions such as purchases.
Interana’s technology has partly been based on Facebook to do tasks like sniffing out quickly why the social network was bogging down and providing easy-to-understand visual graphs to explain the problem.
Interana claims that its technology can make sense of incoming information in seconds and let users analyze their business without requiring technicians who know how to work with Hadoop.
Asana, a workplace collaboration and task-management software company, said it used Interana to point out the problems in its service easily, without making engineers spend hours sifting through records of its users’ every online interaction.