After a long, self-induced quiet period, we at iCharts are once again ready for show time! I am extremely thrilled to be launching iCharts’ next chapter in our journey today, by announcing our latest funding round and our NetSuite partnership.
But first some history….
We originally launched iCharts at TechCrunch one week before the Great Recession started, facing a dried-up funding market after Sequoia’s infamous presentation circulated, all while I was relocating the company to the US from Germany. We had the tough choice of either giving up or pushing ahead. We obviously decided for the latter, as we believed in a massive market opportunity and, even more, the big paradigm shift that cloud-based data visualization / visual analytics could drive.
Along the way we developed a unique, rolling funding model, raising $4.5M from private investors allowing us to develop our technology and explore the multitude of opportunities that exist in our market. Cloud-based Data visualization is a very complex and horizontal problem. Working closely with industry leaders such as Coca-Cola, IDC, MarketWatch and many others, we developed a broad understanding of the market resulting in unique capabilities, IP and broad patents in the area of cloud-based data visualization. The market is still in a very early stage, with traditional, on-premise software companies like Tableau popularizing Data Visualization, but based on a Software-As-Download (SAD) model:-) The conversion to a cloud-based model is only in its beginning stage and we are excited to be one of the pioneers in this emerging space.
Which brings us back to today…
I am very happy to announce the details of our next chapter:
Closed a new $4.3M venture round
Software AG, the global technology leader led the round with participation from a number of high-profile private individuals. The additional funds will provide us with the resources to rapidly grow our sales and marketing activities, while continuing to invest in our product.
Launched our NetSuite partnership
We are also very excited to finally announce our NetSuite partnership that we actually entered into at the end of 2013 and soft-launched at SuiteWorld, proudly earning a mention by Zach Nelson, NetSuite’s CEO, during his keynote (around 3:30 in this YouTube video). The reception was overwhelming and we‘ve been so busy implementing and making NetSuite customers’ successful ever since, that we almost forgot to announce the partnership! Our iCharts for NetSuite integrated visual analytics application (‘SuiteApp’) helps customers avoid having to export their data into Excel, by leveraging NetSuite’s saved searches. It allows everyone to create and share interactive and visually appealing reports that can be embedded in NetSuite dashboards.
If you are a NetSuite customer, visit this page for some great resources and an overview of our solution.
We are thrilled about how our offering is resonating with NetSuite customers and are now accelerating our strategy by creating industry-specific offerings, making our easy-to-use, self-service SuiteApp even more relevant to NetSuite’s customers.
What we are really delivering to NetSuite customers is the first manifestation of our larger strategy around Embedded Visual Analytics. Today, users of enterprise cloud application providers have to make a choice between simple, canned reports available as part of the standard cloud application offering, or deploying a complex stand-alone Business Intelligence solution that essentially extracts all data from the cloud application to create visual analytics. Our patented technology allows us to combine the best of both worlds by embedding an entire SaaS Visual Analytics platform into a service that can easily be integrated into any cloud application through a set of sophisticated APIs. Cloud application providers can focus on their core capabilities while offering their users all the benefits of a state-of-the-art, fully integrated, visual analytics application without the set-up hassle and cost of traditional BI applications.
Visual Content Marketing is the second, and radically different, solution enabled by our SaaS platform. Here, companies like IDC create and publish interactive visualizations that allow them to offer a richer experience to their audiences and expand their brand reach through our SEO-friendly and social media-enabled widgets.
Evolving our product to deliver the key needs of our customers and making them successful continues to be our top priority. We are working on an exciting evolution of our platform with our upcoming HTML5 release and are continuing to enrich our iCharts for NetSuite solution based on customer feedback.
To help us in our exciting journey ahead, we have expanded the team with key hires across all functions, including Ted Sapountzis and Dan Morris who joined us to lead Marketing and Sales respectively.
So stay tuned! We will be providing many more updates over the coming weeks as we are building a vibrant community of successful users and customers around our platform.
In the meantime if you have comments or questions, please join the conversation below. I look forward to your feedback.