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Context is everything, in data visualization as in life. That’s the premise that helped CartoDB Inc. raise $23 million in funding from four of Silicon Valley’s most reputable venture capital firms this morning to step up the development of its namesake data visualization platform amid rapidly growing demand.
Like better-known rivals such as Tableau Software Inc. and Qlik Inc., CartoDB promises to help present business metrics in a way that makes it easier for decision-makers without data science know-how to draw the right conclusions. But instead of simple charts and graphs, the startup layers information on interactive maps that offer a much more intuitive way of searching for insights.
That does limit the usefulness of the platform to location data, which means that CartoDB can only compete over a very specialized subset of the use cases that its peers target. However, those use cases end up benefiting tremendously as a result of that specialization, which takes the form of a map editor that provides analysts with a choice of pre-implemented display formats.
The arguably best part is that it’s not hard-wired into the platform but rather implemented as a distinct application that accesses the capabilities of the underlying visualization engine through programming interfaces also exposed to customers. That means large organizations can build custom tools to address even the most niche needs of their internal users.
The flexibility of that do-it-yourself approach is reflected in CartoDB’s online gallery of customer works, which includes maps of everything from the distribution of social networking activity to global selfie preferences. And that diversity in turn mirrors its client base, which includes a combination of tech giants such as Google Inc., publications and major institutions like UNICEF.
The new funding is meant to help grow that lineup even further. The biggest portion of the $23 million came from Accel Partners, which led the round, with the remainder of the investment split among Salesforce.com Inc.’s prolific venture capital arm and existing backers Earlybird Ventures and Kibo Ventures. That brings CartoDB’s total raised to a healthy $31 million.
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