Tidemark Raises $32M To Drag Analytics Into The Modern Age And Reinvents Board Books

Apr 29 2014, 7:17am CDT | by

In a world awash with vendors talking about data analysis, there is something of a polarization going on between vendors. On the one hand you have big expensive analytics solutions from traditional vendors. These solutions tend to revolve around building data warehouses and combine the data-loading aspects of analysis alongside the query, computation and presentation layer.

Related to these traditional approaches we have vendors that aim to offload some of the heavy lifting involved in analytics. Amazon Web Services has two solutions at this lower level, Kinesis is its data ingestion offering while RedShift is its data warehousing solution. Moving these lower parts of the analysis stack to the cloud makes perfect sense – why store and crunch data in traditional infrastructures when commodity cloud vendors can do it for you?

This is the modus operandi of Tidemark, the business planning and analytics vendor that is today rolling out a new flavor of its software, and concurrently announcing  a $32M funding round and a global expansion.

In terms of the expansion and funding news, Tidemark is reporting 300% revenue growth (though no actual dollar values) in fiscal year 2014. To continue to fuel the momentum, and in keeping with the theme of investing early for a high growth opportunity, Tidemark has secured a round of funding from SVB Capital and existing investors Greylock Partners, Andreessen Horowitz, Redpoint Ventures, and Tenaya Capital. Alongside previous rounds, this investment brings Tidemark’s total funding to $80 million.

Existing reference customers include Netflix, Chiquita, Hostess Brands, Chuck E. Cheese’s, HubSpot, ServiceSource and Brown University.

Perhaps more interestingly, at least from a product perspective, is the news that Tidemark is introducing a new notion around analytics with the release of Tidemark Playbooks. Tidemark playbooks aims to close the loop on financial planning. The way things work in a traditional model is that analysts might do some modelling in excel, and then export charts and tables into a PowerPoint presentation to go to the board of directors. Obviously this is a very open loop and goes against the “real time” and “collaborative” themes around today.

With playbooks, analysts can model information within the Tidemark application and then publish the relevant parts of those models or charts into a “Playbook” – essentially a modern take on a PowerPoint deck. These playbooks are accessible on any device, and can be viewed by anyone, not just those who create the Playbook. As such this Playbooks functionality is a tool that should see some use  within upstream reporting and planning scenarios, and potentially moves Tidemark into the territory of those companies looking to disrupt the board papers space – Diligent Board Books being one such vendor.

Alongside Playbooks, Tidemark is introducing a new integration with application monitoring vendor New Relic. The theory goes that application performance increasingly has an important impact on core performance metrics and hence this integration is valuable. I’m not so convinced about this part of the strategy – while undoubtedly technology is a critical factor to organizational performance, I suspect it’ll be a long time before your run of the mile enterprise board of directors looks to analyze application performance in the context of financial performance.

All in all, Tidemark is an interesting play – its customers think so and its investors undoubtedly do to. The Playbooks functionality in particular is an interesting direction and I look forward to seeing what uptake it has within non-technology industries.

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

India, Nepal ink nine deals; Modi inaugurates trauma centre, bus service (Roundup)
Kathmandu, Nov 25 (IANS) Nepal's happiness "gives us joy", Prime Minister Narendra Modi said here Tuesday on his second visit to the Himalayan country in 100 days as both sides inked nine agreements, further cementing their close ties.
 
 
India, Nepal ink 10 deals; Modi inaugurates trauma centre, bus service (Intro Roundup)
Kathmandu, Nov 25 (IANS) Nepal's happiness "gives us joy", Prime Minister Narendra Modi said here Tuesday on his second visit to the Himalayan country in 100 days as both sides inked 10 agreements, including on $1 billion assistance to Nepal.
 
 
Saarc leaders to meet amid hopes of South Asian integration (Curtain Raiser)
Kathmandu, Nov 25 (IANS) The 18th Saarc Summit begins here Wednesday with focus on deeper integration among the eight South Asian neighbours, amid high hopes that the leaders of India and Pakistan will meet to break their diplomatic ice.
 
 
Facebook launches new chatting application
Madrid, Nov 25 (IANS/EFE) Facebook launched Tuesday a new chatting application worldwide called "Rooms" which simulates traditional internet chatting rooms, enabling users to chat with strangers on specific topics.
 
 
 

Latest from the Network

Over a dozen killed in Nigeria twin bombings
Abuja, Nov 25 (IANS) Two blasts Tuesday rocked a busy market in Maiduguri, capital of Nigeria's northeastern state of Borno and epicentre of Boko Haram's violence in the West African country, killing more than a dozen...
Read more on Politics Balla
 
Ready for talks but ball in India's court: Sharif
Kathmandu, Nov 25 (IANS) Pakistan Prime Minister Nawaz Sharif Tuesday said Islamabad is ready to hold talks with India but "the ball is now in India's court", the Geo News reported. Speaking in the Nepal's capital...
Read more on Politics Balla
 
Hope Saarc helps reduce tensions with India: Pakistan minister
Islamabad, Nov 25 (IANS) Pakistan hopes that Prime Minister Nawaz Sharif's participation in the Saarc Summit in Nepal will help reduce Islamabad-New Delhi tensions given that US policies in the region have failed,...
Read more on Politics Balla
 
Modi hands over Dhruv chopper to Nepal
Kathmandu, Nov 25 (IANS) Prime Minister Narendra Modi Tuesday handed over the indigenous Advance Light Helicopter (ALH) Dhruv to his Nepalese counterpart Sushil Koirala here for use by the Nepal Army. Built by the...
Read more on Politics Balla
 
Vanessa Hudgens gets restraining order against stalker
Los Angeles, Nov 25 (IANS) Actress Vanessa Hudgens has got a restraining order against her alleged stalker Junior Kabongo. Hudgens went to court after Kabongo came here from Africa to meet her after sending her a...
Read more on Celebrity Balla
 
Modi flags off Kathmandu-Delhi bus service
Kathmandu, Nov 25 (IANS) Indian Prime Minister Narendra Modi Tuesday flagged off a Kathmandu-Delhi bus service here. A bus bound for Kathmandu took off from the Indian capital at the same time. Modi, here to attend...
Read more on Politics Balla
 
Pune FC maintain hot form in King's Cup
Thimpu, Nov 25 (IANS) Pune FC finished their King's Cup group engagements in style, winning 2-0 against Bangladesh's Abahani Limited at the Changlimithang Stadium here Tuesday, to collect a maximum 12 points from four...
Read more on Sport Balla
 
Frame constitution early, with consensus: Modi urges Nepal
Kathmandu, Nov 25 (IANS) Prime Minister Narendra Modi Tuesday urged Nepal to frame its much-awaited constitution early and on the basis of consensus. Addressing an event here to hand over to Nepal a 200-bed trauma...
Read more on Politics Balla
 
Saudi Arabia to issue five-year residency permits
Dubai, Nov 25 (IANS) The validity of residency permits of foreign workers in Saudi Arabia is likely to be extended to five years, a media report said Tuesday. The directorate general of passports is giving final...
Read more on Politics Balla
 
FC Goa aim to maintain momentum in ISL
Margao, Nov 25 (IANS) Hosts FC Goa will aim to maintain their upward swing and jump to the third spot when they take on Kerala Blasters FC in an 11th round match of the Indian Super League (ISL) at the Jawaharlal Nehru...
Read more on Sport Balla