Reltio reveals growth strategies after recent round of $120 million funding
Data management is tough, especially with the amount of data increasing as the pandemic accelerates the need for remote interactions and transactions. Not only does data management require a lot of storage, it demands frequent monitoring, analysis and security protocols as well.
Reltio Inc., founded in 2011, is designed to fit the need for cloud native solutions to address complex data silo challenges.
“Enterprise customers who used to struggle with 12 or 24 different systems are now coming to us and saying they have 300 or 500 different applications that they use to run their business, and that’s at the lower end of the spectrum,” said Manish Sood (pictured), founder and chief technology officer of Reltio. “Even a business like Reltio today runs on a hundred-plus SaaS applications, end to end. And that it is creating one of the biggest opportunities, as well as one of the biggest friction points in the enterprise.”
Sood spoke with Dave Vellante and David Nicholson, co-hosts of theCUBE, SiliconANGLE Media’s livestreaming studio, during AWS re:Invent. They discussed the history of Reltio, its recent round of funding, what’s coming for the company, and more. (* Disclosure below.)
From the dawn of the cloud … to today
The dawn of the cloud brought exciting changes to enterprises, eliminating the need for bulky, expensive server centers in every headquarters. It also introduced larger processing power and the ability to harness the benefits of utilizing different cloud providers.
“The source of truth data sits in the middle, and the best place for it to sit is the cloud because you have to open it up to the rest of the ecosystem that sits in the cloud, but you also have to maintain a connection to the on-the-ground type of systems,” Sood explained. “Putting it behind the firewall and trying to do that is next to impossible, but doing it in the cloud opens up all the doors that you need for your transformation to take place.”
Cloud processing also offers the benefit of scale, allowing companies to grow without worrying about constantly updating on-prem software. Ensuring growth is both efficient and cost-effective; however, it’s a challenging opportunity that businesses face.
“We’re making sure that we are efficient stewards of capital and applying it in a manner where we are at every turn looking at what’s the next step function that we need to graduate to, because we want to make use of this capital to efficiently grow our business and be a Rule of 40 growth company,” Sood stated.
Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of AWS re:Invent. (* Disclosure: Reltio Inc. sponsored this segment of theCUBE. Neither Reltio nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)
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