Data engineers have a big problem. Nearly every team in their company needs access to analytics and other information that can be pulled from their data warehouses, but only a few have a technical background. red bird was created to help anyone in an organization create and run analytics without using code, reducing the number of bottlenecks data engineers face. The New York-based startup announced today that it has raised $7.6 million in an oversubscribed seed round led by B Capital, with participation from Y Combinator, Thomson Reuters Ventures, Alumni Ventures and Soma Capital, among other funds. and angel investors.
Formerly known as Cube Analytics, Redbird serves as an analytic operating system by connecting all of an organization’s data sources with a no-code environment that non-technical users can use to perform analytics, reporting, and other data science tasks. The new funding will be used to add more no-code capabilities. It also plans to build out its marketplace, where users and developers can exchange apps they’ve created with Redbird.
Founded by data analytics experts Erin Tavgac and Deren Tavgac, Redbird works with major enterprises in a wide variety of industries, including consumer packaged goods, manufacturing, retail, media and agencies. Erin previously worked at McKinsey helping companies build and run data analytics capabilities, while Deren was Chief Product Officer at Saks Fifth Avenue.
Erin told australiabusinessblog.com that the two have quit their jobs to solve business data analytics issues, such as a lack of automation and advanced analytics that require coding skills. That means data engineering teams cannot meet all stakeholder demands, leaving companies unable to manage the fragmented tools within a complex data stack.
Redbird solves these problems by empowering those with no technical background to build custom apps that automate analytics, break down bottlenecks for data engineering teams, and give everyone access to data analytics.
Redbird’s peers in business data analytics include basic analytics tools like Tableau, Looker, and Microsoft Power BI, which Tavgac said Redbird doesn’t consider direct competitors because they don’t automate complex workflows end-to-end, but instead use generic datasets that have already been transformed.
A closer rival are advanced automation platforms like Alteryx, but it has a few drawbacks compared to Redbird. For starters, it has fewer capabilities for collection, data science, and visualization, meaning customers can’t use it as a comprehensive analytics workflow solution, Tavgac said. It’s also hard for non-technical users to adopt, a problem Redbird was created to solve.
Most of Redbird’s customers are large enterprises with revenues exceeding $1 billion. It is profitable, with seven-figure sales and 9x sales growth over the past year. Redbird monetizes through a business SaaS model, with usage-based licensing fees.
Some examples of how customers have used Redbird: A major media company created automation workflows that collect data from more than 10 sources, apply advanced analytics to them, and generate thousands of custom reports to guide their advertising sales activities. A global CPG brand, Redbird uses Redbird to track digital brand health through a wide variety of data sources, such as social media, e-commerce rating and Google search volume, and use advanced analytics to predict future sales trends.
Karen Page, B Capital’s general partner, said in a statement: “We believe that Redbird will become a mission-critical platform for enterprises to manage complex data workflows. This investment underscores our strategy of partnering with innovative companies driving rapid technological transformation. in traditional industries.”