Australian independent software vendor (ISV) Zetaris has completed a $30 million funding round, valuing the company at over $110 million, signaling a period of strong growth.
The successful financing round was led by Exto Partners, with participation from In-Q-Tel, Reach Markets, Vulpes Ventures Singapore, 72 Capital and other investors.
This investment takes Zetaris’ total equity funding to over $50 million and will see the business accelerating its growth in the US, Asia and Australia and New Zealand (A/NZ) to capitalise on the global shift towards faster analytics on decentralised data.
“We regard this as an endorsement of the strength and quality of our technology and our unique offering in the market. We’re very excited about the near future for Zetaris,” founder and CEO Vinay Samuel said.
“Our technology connects multiple databases and analyses them together in real-time, without the time, cost and risk of error associated with moving, recoding and storing data at a central location. Zetaris enables instant analytics on any data, anywhere, making data analytics more efficient, cost effective and secure.”
Zetaris’ cloud data fabric technology provides a single application programming interface (API) for connecting and analysing data, whether on-premises or in the cloud. Its key differentiator from other data analytics solutions, Zetaris claims, is its capacity to build governed, federated queries with in-built security.
Zetaris customers include Telstra, Optus, Nokia, BUPA, Melbourne Water and Murdoch Children’s Research Institute.
“We continue to see leading enterprises shift away from centralised analytical platforms as they realise the cost benefits and the massive opportunity for improving customer success with effective real time data access across the enterprise and outside it,” Exto Partners managing director Will Deane said.
“Exto believes Zetaris has an extraordinary future as the leading networked data platform delivering instant analytics across any data, anywhere.”
In-Q-Tel Australia managing director Clayton Williams said it invested in Zetaris because it offers government and commercial users a new and fundamentally enhanced capability for critical decision making.
“Through its capability to cross-analyse datasets in different places over the Internet and private networks, Zetaris has created a new method for organisations to manage and derive insights from their data,” he added.
Last year, Zetaris embarked on a global expansion strategy, hiring more staff across the business in areas such as sales, partners, marketing and operations.
The ISV was also the successful recipient of the Ingram Micro Comet Competition in 2019, which attracted up to $1.5 million in funding.