“Gartner reports that 2014 continued to see IT-centric platforms routinely being complemented, or replaced, with solutions with business-user-driven data discovery and interactive analysis techniques. We believe Panorama is well positioned to address this quickly growing market in general, and the fundamental market shift in particular.”
Panorama, a business intelligence software company that has developed Necto, a platform that “takes the complex science out of data science [and] transforms any business user into a data analyst in a matter of minutes”, is privately crowdfunding on OurCrowd, seeking to raise $1,680,000 – $2,240,000. The Necto solution aims to leverage proprietary technology to liberate business users from their reliance on IT, data modelers and data analysts and allows them to visualize and explore their data. Panorama’s existing group of investors includes Intel Capital, who is participating again in this round with OurCrowd.
Limited information about the private raise includes reasons why OurCrowd chose to invest in Panorama (remember that OurCrowd invests side-by-side accredited investors):
- Talented team with experienced leadership: Led by CEO Eynav Azarya and Founder and Executive Chairwoman Rony Ross, who sold a previous Panorama technology to Microsoft.
- A unique BI platform Panorama’s Necto platform eliminates business user reliance on IT staff and data analysts and enabling business users to access the data they need on their own. Necto users can create and share high quality reports and dashboards from scratch in an intuitive, drag-and-drop fashion and discover important insights within their own business data without requiring any coding or data analysis background whatsoever—all in a matter of minutes.
- Profitable company with significant commercial traction at an attractive valuation: Panorama’s Necto platform generates millions of dollars in revenues and projects to be EBITDA positive by the end of 2015. Panorama has grown its Necto revenue at over 50% CAGR since 2011, organically (with very little outside investment), and is now aiming for growth acceleration in 2016. Panorama currently has hundreds of paying customers representing tens of thousands of active users using its Nectoplatform across numerous verticals including healthcare, financial service, telecommunications, media and entertainment, government, retail, manufacturing and insurance. Enterprises using the Necto platform include UBS, Citizens Bank, Leumi Card, Danone, Saks Fifth Avenue, Pfizer, World Health Organization, Queensland Health, Texas Instruments, BSI Steel and Israel Aerospace Industries.
- One of the fastest growing software markets, positioned to address a fundamental shift in BI platform market: Panorama is a Gartner Visionary that is addressing a $9B BI platform market projected to grow at an estimated CAGR of 9.7% to $14.2 billion in 2019, which, according to Garter, is one of the fastest growing areas of software spending. Furthermore, in 2015 Gartner reported that a “fundamental shift” is currently underway in the BI platform market in which business users are increasingly demanding access to“interactive styles of analysis and insights from advanced analytics, without requiring them to have IT or data science skills.” Gartner further reports that 2014 continued to see IT-centric platforms routinely being complemented, or replaced, with solutions with business-user-driven data discovery and interactive analysis techniques. We believe Panorama is well positioned to address this quickly growing market in general, and the fundamental market shift in particular.
For more detailed financial information about Panorama’s campaign, registered investors click here. Panorama’s campaign closes 24 November.
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