Nexla, a competitor in the TechCrunch Disrupt Battlefield this week in New York City, has more on its plate than simply impressing the judges. It also chose to launch their public Beta at the event and, while it was at it, announced $3.5 million in funding led by Blumberg Capital with participation from Storm Ventures, Engineering Capital and Correlation Ventures.
That’s what I call making the most of your Disrupt experience.
The company is attempting to solve a major problem around processing data from multiple sources and putting it into a form to make it useful for a given customer and how they do business. It’s a challenge the founders faced first-hand at their previous jobs working in the advertising business where they had to deal with tens of thousands of such data sources, ingesting 20 terabytes of data every hour. They have taken advantage of that experience to create Nexla — and they believe in the coming years, that could seem like a small amount of data.
Saurabh likens Nexla’s automation capabilities to Google Photo, which can take your photos and organize them by subject into albums automatically. Similarly, Nexla takes data and puts it into data sets based on what the data looks like. Users can then tweak the results as needed in the interface.
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By simplifying a complex process, it can free line-of-business users to play with the data in ways that make sense to them, leaving them freer to experiment and open up new possibilities for using the data. If you have to continually get back in line to deal with data processing experts on the engineering team, it discourages this kind of experimentation in a much more rigid system.
While Nexla will generate reports and analytics on the data, Saurabh points out it is not a data visualization tool, although it can export data to those types of tools if need be.
The company launched in March 2016. They released a private beta earlier this year in February and are making the product widely available in open Beta this week. Beta customers include Instacart, InMobi and Grand Rounds.
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