DataChat, a software company that is revolutionizing data analytics, announced the closing of a $ 25 million Series A funding round led by Redline Capital and Anthos Capital. Celesta Capital (formerly WRVI Capital) and Nepthene Capital, which led the previous $ 4 million seed funding round, also participated in the funding round.
“Business data analysis is largely stuck in decades-old processes driven by traditional business intelligence tools,” said Tatiana Evtushenkova, partner at Redline Capital. “Jignesh and his team have a radically different approach to democratizing analysis using an innovative conversational paradigm, and they have a compelling vision to radically transform the existing analytical ecosystem. We are delighted to have led this round table. “
“We were struck by the simplicity of the solution DataChat built, ignoring the complex machine learning and collaboration mechanisms that are required to realize the full potential of enterprise data,” noted Bryan Kelly , Co-Founder from Anthos Capital. “We were also impressed with the excellent team at DataChat, which combines the creation of world-class technology with a deeply empathetic approach to the customer in everything they do. “
“The seed round allowed us to bring the original vision of the product to market and deliver it to a limited set of customers,” said Jignesh Patel , CEO and Co-Founder of DataChat. “The hospitality has been a huge success and the Series A funding round will allow us to accelerate the execution of both our product roadmap and our customer growth strategy. “
DataChat was started as a spin-out from the University of Wisconsin and continues to maintain its headquarters in Madison. DataChat also continues to receive funding from the America’s Seed Fund and the Wisconsin Alumni Research Foundation (WARF), UW-Madison’s non-profit organization specializing in patents and licenses.
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