Spinoff startup Trufa raises $4.5M for real-time analytics
Trufa, the newest player on the Big Data scene, announced this week that it has received $4.5 million in Series C funding from prominent venture capital firm Accel Partners. Enterprise software veterans Paul Wahl and Alex Ott are joining the company’s board.
Freshly spun off from VMS, a Walldorf, Germany-based provider of SAP outsourcing services, Trufa focuses on helping enterprises tap operational data trapped in traditional ERP systems. The startup leverages the HANA in-memory database to develop highly visualized mobile applications that enable users to correlate that information with financial metrics and measure how their actions impact the bottom line. More specifically, decision makers can harness the apps to determine which initiatives generate the most business value, track the progress of projects, and identify new opportunities for driving operational efficiencies. These capabilities are complemented by a predictive analytics component and simplified integration with back-end systems.
Trufa will use the new capital to accelerate product development and expand into new markets.
“Enterprises store vast amounts of valuable data that can help improve operational efficiency and therefore financial performance”, said Ralph Treitz, the CEO of Trufa. “We are excited to offer our customers a solution that takes the guessing game out of operational improvement initiatives, replacing intuition with data. Our One Week Integration Challenge and tablet delivery complete Trufa’s new approach to operational data and decision making.”
Trufa announced the funding a day after DataSift disclosed that it has closed a $42 million Series C financing round led by Insight Venture Partners. Existing backers Scale Venture Partners, Upfront Ventures, IA Ventures, Northgate Capital, Daher Capital and Cendana Capital chipped in too. DataSift offers a social media analytics platform that lets companies monitor social media activity on Facebook, Twitter, Tumblr and dozens of other sites. The solutionl is used by more than 1,000 companies in 40 countries, including Bloomberg, Dow Jones, and CBS Interactive.
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