strongDM Raises $800K From Bloomberg Beta & Data Collective to Detect Data Errors in Real-Time
NEW YORK, NY--(Marketwired - May 11, 2015) - strongDM today announced it has secured $800K in seed financing, led by Bloomberg Beta. Additional investors include Data Collective, SocialStarts, and Jerry Neumann, among others. Businesses are aggressively investing to build Big Data capabilities because they believe that data-driven decisions will increase profits. However, because data sets are riddled with errors, companies consistently reach the wrong conclusion based on incorrect information. These mistakes eliminate the promised profits. strongDM provides automated real-time data error detection to ensure businesses avoid the high cost of bad decisions based on faulty data.
Because data errors have traditionally been handled through custom code built in-house, they regularly go undetected until it's too late and the damage has been done. "No matter how sophisticated your BI tool is, its recommendations are useless if you can't trust the underlying data. You wouldn't buy a Ferrari only to fill the tank with crude oil, so why ask your teams to analyze faulty data? We built strongDM to ensure businesses make their decisions based on accurate information in order to deliver the profits Big Data promised," said strongDM Co-Founder and CEO Elizabeth Zalman.
The founding team intimately understands the financial cost of data errors. While leading technology teams at BookRenter, CaféPress, and Preact, strongDM CTO Justin McCarthy ensured the integrity of over $1B in eCommerce transactions. After leading client analytics at Dotomi and founding Media Armor, Zalman grew frustrated that her teams were bogged down troubleshooting errors downstream instead of generating insights for clients. When Accel-backed Nomi acquired Media Armor, Zalman united with Schuyler Brown, now strongDM's CMO, who previously built the IoT brand into an interior analytics powerhouse that helped unlock the power of big data for brick-and-mortar businesses.
"You wouldn't dream of running your applications today without an application performance monitoring tool like New Relic. Soon you won't be able to imagine making a data-driven decision without knowing that your data was accurate thanks to strongDM" said James Cham, Partner at Bloomberg Beta.
strongDM is a monitoring service that provides automated real-time data error detection to help businesses avoid the high cost of bad decisions based on faulty data. strongDM allows businesses to make data-driven decisions with the confidence that they are the result of accurate information.