Companies have a growing need for tools to help them store, analyze, and manage massive amounts of data.
Business Insider asked venture capitalists to name the top startups in the big data space — including ones that they have no relationship to — and why they think the company will boom in 2020.
Here are the 29 startups they named, plus how much they’ve raised.
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Data operations and data engineering have taken off, investors say.
Companies are increasingly collecting vast swathes of data, though it’s often fragmented across the silos of their business. This makes tools for processing that data — and staying in line with regulations to keep it private and secure — more necessary than ever, says Derek Zanutto, general partner at CapitalG (formerly Google Capital).
“It’s a pretty interesting space now given the pain points you’re seeing from large enterprise accounts,” Zanutto told Business Insider.
To glean value from their data, companies are also turning to tools to analyze and process data using AI and machine learning, which can have a “pretty dramatic impact” on an organization, says Louisa Xu, partner at IVP.
“Data science budgets aren’t going away anytime soon,” Xu told Business Insider.
Zanutto, Xu, and more than a dozen other investors recommended the top 29 data startups they believe will thrive this year and why (all funding data from PitchBook unless otherwise noted):
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Total funding raised: Undisclosed
What it does: Elementl develops an open source software library to build applications for data engineers and data scientists to collaborate on and process data.
Recommended by: Louisa Xu, IVP (no relationship)
Why it will boom: “It’s a much easier way for developers to create clean, usable accessible data… The founder is a former engineer from Facebook and created GraphQL, which is getting strong.”
Startup: Trace Data
Total funding raised: $5 million
What it does: Trace Data builds a platform for managing data while making sure it stays private.
Recommended by: Rama Sekhar, Norwest Venture Partners (no relationship)
Why it will boom: “Trace Data is at the intersection of two massive markets: data management and cybersecurity. Security is all about managing and tracking data for which Trace Data has developed a unique and defensible approach. The team’s backgrounds from Mulesoft and AppDynamics are a perfect fit for solving this nontrivial problem.”
Startup: Monte Carlo
Total funding raised: undisclosed
What it does: Monte Carlo builds a data monitoring platform that helps make sure data is reliable.
Recommended by: Glenn Solomon, GGV Capital (investor)
Why it will boom: “If you’re building a data driven business, and your data is not accurate, you’ll be making bad decisions based on bad data. Turns out this is a really common problem. You don’t get accurate data and have missing data or failed data. They really solved this problem. They’re in their early days, but they’re looking extremely promising so far.”
Total funding raised: $8.5 million
What it does: Materialize builds an engine for streaming and accessing data, allowing users to get updated within …read more
Source:: Business Insider – Tech