SAN MATEO, CA--(Marketwire - May 11, 2011) - Alpine Data Labs, developer of the first solution for Big Data Predictive Insight, today announced that it has received $7.5 million in Series A funding. Emerging from 15 months of product development, the company also announced its 10th production customer and its entry into the US market. Investors include Sierra Ventures, a private venture capital firm managing nine partnerships with over $1.5 billion of committed capital; Mission Ventures, a venture capital firm with over 60 years' experience investing in early stage IT companies; and Sumitomo Corporation Equity Asia, the Asian arm of Sumitomo Corporation's Strategic Venture Investment. The funding will be used to help Alpine Data Labs increase staff in China and the United States and accelerate product development and sales.
"Companies cannot wring all the possible value from their data because the potential in their data is growing faster than they can analyze it, they don't have enough resources with analytics expertise, and the tools they're using are too complex to get to the answers they need quickly and effectively. But Alpine Data Labs takes these walls down, making it possible to use the power of Big Data to more accurately predict the future," said Alpine Data Labs CEO and Co-Founder Anderson Wong. "With this investment from smart investors that have built companies in the booming Big Data market, we're going to aggressively expand execution in China and USA, the two largest markets for predictive analytics."
Alpine Data Labs has designed and delivered the first solution for Big Data Predictive Insight. Declining storage costs have enabled the collection and storage of massive datasets, but these are useless without a reliable, cost-effective way to apply predictive analytics. Meanwhile, most data modeling solutions are prohibitively expensive to buy and maintain, leaving nuggets of insight hidden among mountains of data. Incubated within Greenplum, which was acquired by EMC in 2010, Alpine Data Labs has Big Data in its DNA. The company's solution is intuitive, affordable and optimized for fast experimentation, collaboration and an ability to work within the database itself -- in short, enabling customers to do incredible things by making it easy and inexpensive to find important insights hidden in massive datasets.
Alpine Data Labs' founders also have Big Data in their DNA as well as strong ties to China. CEO Wong co-founded the company in 2010 after serving as general manager at Greenplum responsible for that company's successful entry into China. He also served in a variety of management positions at IBM and Sun. CTO and co-founder Yi-Ling Chen has over 20 years' experience in IT and consulting, including serving as technical director of support and service for Greenplum in China. Alpine Data Labs' Board of Directors and Advisors includes Tim Guleri, Managing Director of Sierra Ventures; Leo Spiegel, Managing Partner at Mission Ventures; and Scott Yara, Vice President of Products in EMC's Data Computing Division and Co-Founder of Greenplum.
"Big Data requires a new breed of tool to deliver a new class of predictive insight," Guleri said. "Alpine Data Labs is addressing that need with the only cross-platform in-database solution: it's accurate, complete, more secure and blazing fast."
About Alpine Data Labs
Alpine Data Labs has developed the first solution for Big Data predictive insight, making it faster, easier and less complex to achieve predictive insights from the massive datasets companies can now collect and store due to declining storage costs. Incubated within Greenplum (acquired by EMC in 2010) and founded by an experienced team with strong ties to China, Alpine Data Labs has Big Data in its DNA. The company is based in Silicon Valley and is backed by Sierra Ventures, Mission Ventures, Sumitomo Corporation and Stanford University.