Glassbeam, a big data applications company specializing in multi-structured machine data analytics has secured $3 million in additional equity funding. Glassbeam’s mission is to help companies and enterprises across a variety of markets understand machine data by providing a platform and set of key values to reduce support costs, increase service revenue and improve products.
“It’s an exciting market. It is all about how to ride this new wave of connected devices and pings across multiple verticals,” Puneet Pandit, founder and CEO, Glassbeam, said in an interview.
The new funding was led by VKRM Group, a boutique venture capital firm. Kumar Malavalli, lead investor at VKRM Group and co-founder of Brocade Communications and InMage Systems, is chairman of the Glassbeam board of directors.
Support expansion of the field of marketing engine primarily in the United States, and the engineering operations in India, the investment will be used to fuel product innovation, expand the customer and partner ecosystem, and build a dedicated data science team to help customers improve intelligence and analytics through the use of machine data, explained Pandit.
“The market is very vibrant these days. We are excited about where we are headed,” noted Pandit. Customers have the ability to parse and mine multi-structured machine data with Glassbeam’s patent-pending technology, supporting better strategic and operational business decisions.
With the launch of Glassbeam in 2009, the company now has 32 employees and expects to double that number in the next couple months with the new funding.
More information is available about Glassbeam, Inc.,