Total amount raised
$81 Million
Latest funding date
08/01/2020
Location
Mode Analytics has successfully raised funding over 7 rounds, with the latest being a Series D round. The company is backed by 17 investors, including notable names like overtime.vc and Valor Equity Partners.
Keep reading to explore the intricacies of Mode Analytics' fundraising journey and the investors backing this innovative platform.
What Is Mode Analytics?
Mode Analytics, based in San Francisco, California, operates in multiple industry categories including Analytics, Big Data, Developer Tools, Information Technology, and Software. The company has an employee count ranging from 101 to 250.
Mode Analytics specializes in modern business intelligence solutions, offering capabilities such as ad hoc analysis, advanced analytics, self-service reporting, and custom data apps. The platform is designed to help organizations make data-informed decisions by uniting data teams and business teams around data.
Founded to serve as a central hub for organizational analysis, Mode Analytics has been acquired by ThoughtSpot. The company has successfully raised funding over 7 rounds, backed by 17 investors.
How Much Funding Has Mode Analytics Raised?
- Seed Round
- Amount Raised: USD 550,000
- Date: October 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the analytics platform and enter the market.
- Debt Financing
- Amount Raised: USD 1,935,000
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early operational costs and initial scaling efforts.
- Seed Round
- Amount Raised: USD 2,000,000
- Date: June 2014
- Lead Investors: Formation 8
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: USD 7,500,000
- Date: August 2015
- Lead Investors: Foundation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase market penetration.
- Series B
- Amount Raised: USD 13,000,000
- Date: May 2017
- Lead Investors: REV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand customer base.
- Series C
- Amount Raised: USD 23,000,000
- Date: February 2019
- Lead Investors: Valor Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue platform enhancement and market expansion.
- Series D
- Amount Raised: USD 33,000,000
- Date: August 2020
- Lead Investors: H.I.G. Growth Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the platform's development and adoption.
Total Amount Raised: USD 83,985,000. Current Valuation: Not publicly disclosed.
Key Investors
- H.I.G. Growth Partners
- Details: H.I.G. Growth Partners is the growth capital investment affiliate of H.I.G. Capital, a global private equity investment firm. They participated in Mode Analytics' Series D funding round.
- Investment Focus Areas: Technology, healthcare, internet and media, consumer products, technology-enabled financial and business services.
- Notable Investments: Not publicly disclosed.
- Valor Equity Partners
- Details: Valor Equity Partners is known for investing in high-growth companies across various industries, including technology, consumer, and healthcare. They led Mode Analytics' Series C funding round.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Tesla, SpaceX, Addepar.
- Foundation Capital
- Details: Foundation Capital invests in early-stage and growth-stage companies in sectors such as enterprise software, fintech, and consumer technology. They led Mode Analytics' Series A funding round.
- Investment Focus Areas: Enterprise software, fintech, consumer technology.
- Notable Investments: Netflix, LendingClub, Sunrun.
- REV Venture Partners
- Details: REV Venture Partners focuses on investing in technology-driven companies that are transforming industries. They led Mode Analytics' Series B funding round.
- Investment Focus Areas: Technology-driven companies.
- Notable Investments: Not publicly disclosed.
- Formation 8
- Details: Formation 8 is a venture capital firm that invests in early-stage technology companies. They participated in Mode Analytics' seed funding round.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not publicly disclosed.
What's Next for Mode Analytics?
Mode Analytics stands at the cusp of significant growth opportunities. With a robust platform that integrates advanced analytics, business intelligence, and machine learning, the company is well-positioned to expand its customer base, which already includes 52% of the Forbes 500. The recent $33 million Series D funding will accelerate the development of their platform, enhancing collaboration between data teams and business functions.
Future fundraising opportunities appear promising, given the strong investor interest and the company's impressive market presence. Mode Analytics may attract additional investment to further innovate and expand its capabilities. However, the company will need to navigate challenges such as intense competition from other analytics providers and the need to continuously innovate to keep up with rapid technological advancements.
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