Igneous Secured $25 Million in Series-C Funding

Igneous, Inc., the Seattle, WA-based start-up delivering Unstructured Data Management (UDM) as-a-Service solution, has raised $25 million in Series C funding led by WestRiver Group (WRG).

The company has experienced growth and customer traction within data-centric enterprises across industries. With this latest round, it will accelerate its mission to help organizations see, organize, protect and mobilize their most valuable data assets. WRG is joined by all existing investors, including Madrona Venture Group, NEA, Vulcan Capital Management and Redpoint Ventures.

Funding will be used to expand the company’s technology and go-to-market investments to further tackle the mounting issues enterprises deal with in managing, protecting and getting value from their growing volumes of unstructured data.

“The addition of the WestRiver Group is core to our mission,” said Kiran Bhageshpur, CEO. “We believe they are the right partner to support our mission to solve our customers’ most challenging data enablement initiatives and accelerate adoption of UDM.”

“WestRiver Group is excited to lead this round of funding,” said Anthony Bontrager, MD, WRG. “Igneous is uniquely positioned to enable enterprises to unlock the value of their datasets and simultaneously reduce their risk profile. This is a complex problem that Igneous has tackled with impressive technology services.”

80% of global enterprise data is driven from unstructured data – much of it being machine generated, high fidelity file and object data such as imaging, video, scientific and sensor data. Tools for data-centric workflows (including machine-based learning, HPC and EDA) for harnessing the value of this data are now accessible for mainstream enterprise adoption. But teams still face the harsh technical limitations of managing the growth and lifecycle of these datasets for best use – as reported in the 2018 State of Unstructured Data Management (subscription required).