Performance analystics firm Tidemark today announced it has closed a $24 million round of funding led by Redpoint Ventures, with participation from existing investors Greylock Partners, Andreessen Horowitz and Dave Duffield, co-founder and co-chief executive officer of Workday. The brings Tidemark’s total amount raised to more than $35 million
Redpoint Ventures founding partner Geoff Yang will join the company’s board of directors. Current director Phil Wilmington has been named executive chairman, in which role he will provide strategic guidance.
Tidemark said the funds will enable it to aggressively expand its customer base by targeting Fortune 1000 companies. According to the company, the $20 billion annual market in business intelligence systems is complacent when it comes to handling the vast amounts of data today’s companies must collect and analyze.
“The next-generation of enterprise applications combine social, mobile, analytics and big data,” Yang said. “Tidemark is at the nexus of all of these trends and Redpoint is extremely pleased to make this investment. We look forward to a long-term successful relationship in helping to build the company.”
Tidemark’s suite of tools is cloud-based and designed for social and mobile collaboration in real time.
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