San Francisco based, Transform, a Big Data integration and visualization company, announced that it came out of secrecy and closed a Series A round at USD 20 Million and an early seed round at USD 4.5 Million.
Both of the rounds were led by Redpoint Ventures and Index Ventures. The company also stated that in the seed round many angel investors also took part like Lenny Rachitsky of Airbnb, Cristina Cordova of Notion, and Elad Gil of Color Genomics.
Transform has built a metric engine that a company can integrate into its data structure, it is a tool similar to the one that Big companies use for themselves. It has brought that type of metric engine for other than the big ones.
Words from the investors –
“Transform is filling a critical gap within the industry. Just as we invested in Looker early on for its innovative approach to business intelligence, Transform takes it one step further by providing a powerful yet streamlined single source of truth for metrics,” – Tomasz Tunguz, MD, Redpoint Ventures, in a statement.
“We’ve seen companies across the globe struggle to make sense of endless data sources or turn them into actionable, trusted metrics. We invested in Transform because they’ve developed an elegant solution to this problem that will change how companies think about their data,” added Shardul Shah, a partner at Index Ventures.
About Transform –
Transform it the first-ever metric store that allows the data analyst to deliver insights more timely, fast, confidently and accurately. It was initiated by James Mayfield, Nick Handel, and Paul Yang in the year 2019.
The company’s engine can work with abundant data or data that can be tracked in real-time, to come up with insight and analytics for different products by the customer’s product. Transform is user-friendly and can be queried by a person who is having no experience in the technology sector but needs to deal with the data.
In an interview, Nick Handel, CEO, Transform recalls that –
“There is a growing trend among tech companies to test every single feature, every single iteration of whatever. And so as a part of that, we built this tool [at Airbnb] that basically allowed you to define the various metrics that you wanted to track to understand your experiment,”
“But you also want to understand so many other things like, how many people are searching for listings in certain areas? How many people are instantly booking those listings? Are they contacting customer service, are they having trust and safety issues?”
“By locking down all of the definitions for the metrics, you could basically have a data engineering team, a centralized data infrastructure team, do all the calculation for these metrics, and then serve those to the data scientists to then go in and do kind of deeper, more interesting work, because they weren’t bogged down in calculating those metrics over and over, We were really inspired by some of the early work that we saw happen on this tool.”
One of co-founder, James Mayfield added to this saying –
“There’s a handful of companies who do similar things in the metrics space, really top-flight companies like LinkedIn, Airbnb and Uber. They have really started to invest in metrics. But it’s only those companies that can devote teams of eight or 10, engineers, designers who can build those things in the house. And I think that was probably, you know, a big part of the impetus for wanting to start this company was to say, not every organization is going to be able to devote eight or 10 engineers to building this metrics tool.”
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
