This morning we announced that Visier has secured $25.5 million in series C financing. This is a critical milestone in the company’s evolution. With this additional capital, we will accelerate solution development and expand our sales reach into new markets. We will widen our lead over the competition by helping our customers to understand their business and model their future, sourcing all the data at their disposal, including the so-called Big Data – in essence, all the data, internal and external to the business, that relates to a given domain.
The vision of using Big Data has captured the attention of business leaders around the world. However, except for a few giant firms with nearly unlimited resources and a strong background in technology adoption, most organizations lack the expertise of using Big Data to optimize their workforce or product offerings. Indeed, according to industry studies, the majority of business intelligence projects lag far behind objectives in user adoption and satisfaction.
Traditional business intelligence approaches for extracting information require IT experts to start with a data warehouse. This type of structure was not designed to support rapidly changing data extracted from variable sources. The result is that business users are presented with information that is incomplete, out-of-date, irrelevant, or, even worse, inaccurate.
Visier has recognized this problem and is at the forefront of the new class of solutions called Applied Big Data analytics. We remove the burden of predicting the user questions, finding the data sources, and integrating the stack of Big Data tools and data. Instead we provide the business user with insights for action and scenarios to build their business plans out-of-the-box.
Applied Big Data analytics are developed and typically hosted in the cloud by solution providers, which focus on specific domains and answer critical business questions. Unlike traditional tool sets, Applied Big Data solutions work without a need for significant professional services, and are provided directly to business users, rather than to IT. (For insight into how Applied Big Data works, read our Ultimate Big Data Cheat Sheet). Another example of this approach is the advertising firm RocketFuel.
In Visier’s case, we provide Applied Big Data solutions for workforce insights and action. Another way of looking at it is that we are providing business leaders and people managers with a window through which they can understand and make decisions about their business processes and workforce.
Our own track record of revenue and customer growth is strong evidence that businesses are hungry for Applied Big Data solutions, particularly within the HR market. Over the last 12 months we have:
- More than doubled our customer base
- Experienced more than triple growth in revenue
- Opened a new headquarters in San Jose, CA
- Relocated our Vancouver headquarters to larger facility to support growth
- Released two new product offerings (Visier Workforce Planning and Visier Workforce Benchmarking)
At Visier we are re-imagining Business Intelligence and Big Data. We are very fortunate to be working with our forward-thinking customers, as well as some of the brightest minds in data visualization, semantics, and statistical modeling.
We are chomping at the bit to take this venture even further, because when it comes to driving new technology approaches, it is go big (data) or go home!
Watch a three-minute overview about the Story of Visier.