PALO ALTO, California.–(BUSINESS WIRE)–Yellowbrick Data, the innovation leader in modern data warehousing, announced today that it has closed a $75 million Series C1 financing while accelerating the growth in sales of its cloud data warehouse. Yellowbrick continues to add large financial services, hedge funds and insurance companies as clients, contributing to a diversified client base of companies across many industries including telecom, healthcare, retail and manufacturing. The company is on track to more than double its ending ARR business with this year’s bookings, while its net customer retention rate approaches 150%, a strong indication that once customers start using Yellowbrick, they tend to increase rapidly. to deploy.
The Series C1 financing added three new investors, including institutional investor Citadel, which is also a recent new client of Yellowbrick. “We believe Yellowbrick’s data warehouse technology has an edge over anything on the market after seeing first-hand what it can do for our analytics. We are excited to invest in what will become the new standard in data warehousing and analytics,” said Josh Woods, head of options, ETF, CES and research technology for Citadel Securities. Existing investors including Third Point Ventures, Menlo Ventures, Next47, DFJ Growth, Threshold Ventures, GV and IVP also participated.
“Customers tell us time and again that they can no longer tolerate the unlimited costs of consumption-based billing, especially suppliers who enforce advanced purchasing of ‘credits’ like Snowflake,” said Yellowbrick CEO Neil Carson. “Customers greatly prefer our modern, Kubernetes-based, true cloud-native architecture that allows for a choice of pricing models.”
“Data is becoming more widespread when real-time analytics is mission-critical,” said Mike Leone, senior analyst at ESG. “Yellowbrick’s compelling vision to bring data warehousing to a distributed cloud architecture shows where the market is headed. Rapidly realizing that cloud vision puts Yellowbrick in a league of its own when it comes to knowing that data analytics needs to be as flexible as possible to meet business needs.”
Early client, Matthias Baumhof, CTO of LexisNexis Risk Solution agrees. “The speed of Yellowbrick’s innovation was amazing to see. Their approach to a cloud-native data warehouse is a real game-changer for the industry and has the potential to dramatically improve our business.”
Yellowbrick has achieved a Net Promoter Score (NPS) of 91, was named a “Contender” in the Forrester Wave for Cloud Data Warehouses in the first quarter of this year, and was recently named an “Outperformer” by GigaOm in its Radar Report for Data Warehouses. “. released last month. Some of the recent new customers added by the company include Cardlytics, Sunny Optical Technology, CJ Olive Networks and National General Insurance.
“Yellowbrick has created a cloud-native data warehouse that scales with businesses, can be deployed in any cloud or on-premises, and has a unique pricing structure that helps companies accurately plan their spend,” Leone added.
About Yellowbrick data
Yellowbrick is revolutionizing the world of data analytics with the world’s fastest and most flexible cloud-native data warehouse. Organizations of all sizes rely on Yellowbrick to get answers to their toughest business questions, empower decision-making, and gain real-time insights at a fraction of the cost of alternatives. Yellowbrick offers superior price/performance for any business use case, along with the unique ability to run analytic workloads in public or private clouds, at the network edge, or any combination, with a choice of usage-based prices or predictable fixed cost subscriptions . Learn more at yellowbrick.com.