Reltio, the enterprise data-driven applications and modern data management Platform as a Service (PaaS) company, announced it has secured Series C funding in the amount of $40 million—a clear sign of investors’ confidence in the company’s momentum and strong business prospects. Reltio Cloud is a multitenant PaaS that enables organizations to build data-driven applications with reliable master data management (MDM), relevant big data insights, and intelligent recommended actions.
The funding was led by global venture capital firm New Enterprise Associates (NEA), which has a strong track record of investing in enterprise technologies at the forefront of innovation, and visionary leaders building transformational organizations. New investor, Sapphire Ventures, which aims to help today’s most innovative entrepreneurs and technology companies build global category-defining businesses, also joins this round. Existing investors Crosslink Capital and .406 Ventures also participated. The new funds will further boost Reltio’s market momentum, and fuel engineering, sales, and marketing initiatives while enhancing the company’s global footprint and leadership in modern data management.