Polytomic Raises $2.4M Seed Funding

Data Accessibility: Polytomic Secures $2.4 Million Seed Funding

Many organizations accumulate vast amounts of data, yet effectively distributing this information to those who require it presents a significant hurdle. Polytomic, a company that emerged from the Y Combinator Winter 2020 program, was founded to address this challenge.

Seed Round Details

Polytomic has announced the successful completion of a $2.4 million seed funding round. Caffeinated Capital spearheaded the investment, with contributions from Bow Capital and several individual investors.

Notably, the founders of PlanGrid, Tracy Young and Ralph Gootee, also participated in the round. Both Polytomic’s CEO, Ghalib Suleiman, and CTO, Nathan Yergler, previously held positions at PlanGrid.

How Polytomic Works

“We synchronize internal data with existing business systems,” explained Suleiman. “Consider a sales team utilizing Salesforce; they may need insights into product usage derived from customer data residing in separate internal databases.”

Polytomic offers a no-code web application that facilitates the transfer of internal data to the business systems commonly used within an organization.

Breaking Down Data Silos

Data frequently remains isolated within different departments and systems across companies. Polytomic empowers users to construct connections between these data sources through a simple drag-and-drop interface.

This integration introduces new data as additional fields within the target application. For example, customer usage data could automatically populate a usage percentage field in Salesforce.

Target Users and Implementation

The product is primarily marketed to business operations teams. These teams are responsible for establishing a catalog of available data sources within the Polytomic platform.

Typically, a business analyst will configure these sources. Subsequently, any user can create connectors to these sources by selecting them from the catalog and specifying the desired delivery location for the data.

The Genesis of Polytomic

The founders identified the need for Polytomic while working at PlanGrid, where they encountered difficulties in providing timely data access to relevant personnel. This issue became increasingly pronounced as the company expanded and data volumes grew.

Leaving PlanGrid in 2018, they launched Polytomic a year later to tackle this problem directly. Participation in the Y Combinator program allowed them to refine their product and prepare for launch.

Early Traction and Future Plans

The initial version of the product was released in September of last year, and the company reports early success in acquiring customers and generating revenue.

Current customers include Brex, ShipBob, Sourcegraph, and Vanta.

Currently, Polytomic operates with only its two founders. The recent seed funding will enable the company to begin expanding its team through strategic hiring this year.