K2View raises $28 million to automate enterprise data unification


Knowledge platform developer K2View today announced it has raised $28 million that will be put toward accelerating go-to-market efforts. K2View, which is targeting customers in industries like telecom, financial services, health care, insurance, and logistics, claims revenue in the first half of 2020 grew at an over 75% compound annual growth rate.

Enterprise data is often siloed across hundreds of apps stored in different physical locations, technologies, and structures. K2View asserts that in this environment, admins can’t move fast and provide good customer experience at the same time. Indeed, despite the fact that over 50% of companies were adopting big data in 2017 (according to Forbes), 40.3% of respondents to a Statista survey suggest that big data usage was held up by a lack of organizational agility.

K2View was founded in Israel in 2009 by Rafi Cohen and Achi Rotem, veterans of global telecommunications tech brands Amdocs, Sprint-Nextel, and TTI. The pair initially tackled the challenge of developing a faster and more reliable process to extract, transform, and load large databases from one platform to another, which led to the creation of the K2View Fabric platform.


Above: A schematic illustrating the K2View architecture.

Image Credit: K2View

K2View’s “micro-database” Fabric technology connects virtually to sources (e.g., internet of things devices, big data warehouses and data lakes, web services, and cloud apps) to organize data around segments like customers, stores, transactions, and products while storing it in secure servers and exposing it to devices, apps, and services. A graphical interface and auto-discovery feature facilitate the creation of two-way connections between app data sources and databases via microservices, or loosely coupled software systems. K2View says it leverages in-memory technology to perform transformations and continually keep target databases up to date.

According to CEO Rotem, most admins are able to map 50% to 80% of their database objects and automate matching, cleansing, and security tasks using the source connectors and auto-discovery capabilities within K2View’s Studio tool. Through Studio, they’re also able to take advantage of smart-sync, which provides the ability to set rules at the source-, business-, entity-, and data element-level that trigger on-the-fly updates while remaining resource-efficient.

Complementing Studio, Fabric has embedded web services to simplify the administration of data layers. It generates web services for functions that work with existing queries and APIs, enabling even novice technicians to kick off database workloads. That’s a crucial point, according to Rotem — McKinsey pegs the shortfall of big data experts at anywhere from 140,000 to 190,000.

Forestay Capital led the round in K2View, along with Genesis Partners. The company has offices in Israel, Dallas, and Atlanta, and it claims to have “large enterprise” customers based in North and South America, Europe, the Middle East, and Asia.

Sign up for Funding Weekly to start your week with VB’s top funding stories.

Credit: Source link