Panoply Raises $10M to Simplify Cloud Data Platform

Panoply, a service designed to simplify the creation of data warehouses and enable data analysis using familiar SQL queries, has announced a new round of investment totaling $10 million. The funding comes from Ibex Investors and C5 Capital, increasing the company’s overall funding to $24 million.

Founded in 2015, the company has largely maintained its initial focus on providing broader access to data warehousing and the associated analytical tools. In recent years, Panoply has also incorporated more data integrations that require minimal coding, allowing businesses to easily import data from numerous platforms. These include popular services such as Salesforce, HubSpot, NetSuite, Xero, QuickBooks, Freshworks, and others. Furthermore, it is compatible with established data warehousing solutions like Google’s BigQuery and Amazon’s Redshift, as well as leading business intelligence and analytics applications.

The company intends to utilize this new capital to bolster its sales and marketing initiatives.

“Our goal is to streamline the work of data analysts by simplifying data synchronization, storage, and access, and this funding will significantly contribute to achieving that objective,” stated CEO and co-founder Yaniv Leven in a recent announcement.

Panoply may have initially entered the market slightly ahead of its time. However, the current demand for data warehousing and analytics services is undeniably strong. Virtually every organization is now seeking to extract valuable insights from the substantial data they collect daily. This market has become increasingly competitive, with major players like Snowflake, Databricks, and other cloud providers all vying for market share. Panoply and its investors are confident that the company’s comprehensive platform provides a distinct advantage in this landscape.