Analytics Startup C9 Refreshes Portfolio After $12M Funding Round
Revenue analytics specialist C9 has raised $12 million in Series D funding from Mayfield Fund, InterWest Partners and Leapfrog Ventures to accelerate the development of its software and fuel sales and marketing efforts. The round brings the six-year-old startup’s total funding to $40 million.
The San Mateo, California-based C9 offers a cloud-based Big Data platform that leverages real-time and historical data to provide enterprises with insights into their financial performance. The solution also delivers “actionable recommendations” that the firm says enable decision makers to identify potential growth opportunities.
In a gesture to investors, C9 announced the funding in conjunction with a major update to its flagship platform and Active Forecast and Active Insights, two new applications for mapping revenue pipelines. The former helps sales personnel forecast deal close rates, while the latter empowers users to pinpoint and share business risks with their colleagues via platform-agnostic dashboards.
To further advance its vision, the company appointed 20-year industry veteran Michael Howard as chief executive officer. Howard previously served as the vice president of marketing at Greenplum, head of data warehousing for Oracle, and CEO of data protection provider Ingrian Networks.
“C9’s bold vision to optimize revenue across marketing, sales, service and support sets a new paradigm in how analytics vendors help enterprises maximize revenue. C9’s differentiation is its ability to capture large volumes of data—at incredible speed— and use predictive analytics to identify trends that pinpoint what deals are likely to convert into revenue,” Howard said in a statement. “I’m excited to be leading a company that truly gives enterprises transparency and the clarity needed to proactively optimize revenue performance, and ultimately impact a company’s bottom line.”
Earlier this month, behemoth SAP snapped up predictive analytics startup KXEN to bolster its line of HANA-powered business intelligence applications. Terms of the deal were not disclosed.
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