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Venture capital is continuing to flow into the analytics space as organizations find more and more applications for their information. There’s especially strong interest in the data coming off the connected universe, enthusiasm that FogHorn Systems Inc. harnessed last week to secure $12.5 million in additional funding.
The capital will help the startup widen the adoption of its edge analytics platform, which is designed to be deployed at factories, oil rigs and the other remote locations where machine-generated data is collected. Handling operational logs at the point of creation removes the delay involved in transmitting them to a company’s main number-crunching environment and thereby enables technicians to identify issues faster. Moreover, FogHorn’s software also reduces networking expenses in the process since less bandwidth is used up as part of the analysis.
The startup announced its funding round shortly after another up-and-coming analytics provider called Reflect Inc. took in $2.5 million from a group of investors led by Draper Fisher Jurvetson (DFJ). The cash infusion is designed to fuel the rapid growth of the outfit’s namesake data visualization service, which lets developers easily embed graphs in their applications. It only requires adding a few lines of code to a software project and packs an expansive library of ready-made chart templates. This combination has helped the startup attract numerous enterprise customers including security giant Barracuda Networks Inc., Microsoft Corp. and several other notable tech firms.
The fact that Redmond is using Reflect is especially notable since its Power BI business intelligence service provides a competing feature for creating embedded visualizations. The company is churning out more and more analytics capabilities in a bid to stand out from rivaling cloud providers. One of the latest additions came last week in the form of a automated linguistic helper for Word that uses machine learning and natural language processing algorithms to provide writing tips. When the word “affect” is incorrectly used instead of “effect”, for instance, the tool can display a small pop-up explaining the error. It will start rolling out into general availability later this year.
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