Glassbeam said Thursday that it has closed $3 million in funding. The lead investor was VKRM Group. Also, Kumar Malavalli of VKRM Group has joined Glassbeam’s board as chairman. Headquartered in Sunnyvale, Calif., Glassbeam is a provider of machine data analytics.
MOUNTAIN VIEW, CA–(Marketwired – Sep 19, 2013) –
Glassbeam, Inc., the machine data analytics company, today announced that the company has secured $3 million in additional equity funding. The investment will be used to fuel next-generation product innovation, expand the customer and partner ecosystem, and build a dedicated Data Science team to help customers improve intelligence and analytics through the use of machine data. Additionally, Glassbeam is expanding its offices in the U.S. and India to new locations by end of year to accommodate its double employee capacity and facilitate overall global expansion.
The new funding was led by VKRM Group, a boutique venture capital firm investing in entrepreneurs building innovative and industry-leading businesses in the enterprise services and software, education and Internet sectors. Kumar Malavalli, lead investor at VKRM Group and co-founder of Brocade Communications and InMage Systems, is chairman of the Glassbeam board of directors.
“Since inception, I’ve been pleased with Glassbeam’s growth and traction in the market,” said Kumar Malavalli, principle at VKRM Investment Group. “The company is committed to its customers, maintaining a high degree of innovation and transformation for turning complex machine data analytics into actionable intelligence. The promise of Glassbeam’s core technology, coupled with the management team’s pedigree and success, provide exciting growth prospects.”
Glassbeam’s patent-pending technology enables customers to parse and mine multi-structured machine data to make better strategic and operational business decisions. Glassbeam customers and partners include Fortune 500 companies and enterprises across a variety of markets including storage, wireless, networking and medical devices.
“Our investors’ confidence in Glassbeam validates our strategy and the pioneering work we have done over the last four years building machine data analytics for the Internet of Things,” said Puneet Pandit, CEO and founder of Glassbeam. “This funding will enable us to bring new structure and meaning to data, building on this foundation by accelerating product engineering, delivering on new solutions and domain expertise and expanding our industry partnerships and customer base.”
Glassbeam Inc. is a Big Data applications company specializing in multi-structured machine data analytics for IT and business users. Glassbeam’s Big Data applications for customer support, product development and sales leverage the company’s breakthrough Semiotic Parsing Language (SPL) that can quickly extract strategic intelligence from complex operational data contained in multi-structured machine data.