Tidemark raises $13 million for cloud-based analytics
August 1, 2013
Grazed from ChicagoTribune. Author: Editorial Staff.
Tidemark said Thursday it has raised $13 million in venture backing for its cloud-based analytics services, boosting the startup’s efforts to challenge enterprise giants in a fast-growing sector of business technology. The investment round, which brings Tidemark’s total funding to $48 million, was led by Tenaya Capital, with participation by existing investors Greylock Partners, Andreessen Horowitz and Redpoint Ventures.
The Redwood City, California-based company, whose competitors include Oracle Corp’s Hyperion and SAP , allows businesses to analyze data on a cloud-based basis, using remote computers rather than a customer’s own computing infrastructure…
Cloud computing generally has more flexible costs and avoids the big upfront fees legacy players traditionally charge…
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