Netezza, a startup that focuses on gleaning business
intelligence from terascale data, is expected to disclose this week
that it has secured $20 million in a second round of funding led by
Battery Ventures. Charles River Ventures and Matrix Partners are
also taking part.
Businesses collect data from IT systems, Web sites, partners, and
customers at an accelerating rate. But business-intelligence systems
aren't designed to handle such volumes of data, says Jit Saxena,
Netezza's co-founder and CEO. "When you're dealing with terabytes of
data, you need a fundamentally new architecture," he says. "We
started with a clean sheet of paper and focused on the problem of
terascale data."
Netezza is developing what it calls a "business-intelligence
platform" that includes hardware, software, and data-storage
technology for loading and querying large volumes of data.
Business-intelligence tools from Business Objects, Cognos, and other
vendors can access data managed by the Netezza system. It will be
aimed at data-intensive industries such as telecommunications,
retail, and financial services.
Netezza's product is in early testing with a number of
undisclosed customers, says Saxena, who previously founded Applix, a
customer data-analysis software vendor.
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