Press Release (ePRNews.com) - SINGAPORE - Sep 25, 2016 - Singapore based linked data analytics company, Latize, has announced the closing of a $2 Million growth funding round.
The new round of investment by Tembusu ICT Fund 1, ACP Venture Capital and Spring Seeds Capital, will allow Latize to sharpen its productisation strategies and scale up its business and operations globally. This new round has come on the heels of Latize’s renewal of its accreditation status with IDA. Since its series AA funding round last year, Latize has been focusing on the productisation of its Ulysses platform towards helping its customers use their data to make better business decisions in areas such as Investigation & Compliance, Customer Relationship Management, Data Monetization and Holistic Education.
Brijesh Pande, Managing Partner of ICT Fund 1 said, “We invest solely in promising enterprise software companies. Latize offers an innovative and advanced solution to big data linkage, harmonisation and cleansing (especially around entity resolution). Latize’s solutions have the potential to grow them into an established global leader in big data analytics. We look forward to our partnership with Latize and intend to leverage our enterprise relationships to further expand Latize’s business globally.”
ACP Venture Capital’s Managing Partner, Sameer Narula said, “Since ACP’s first investment in Latize, the company has significantly expanded its support to key government clients and has scaled into new industry segments in Singapore and abroad. We continue to believe in the company and its ability to innovate and grow internationally.
As an IDA Accredited company, opportunities generated through Accreditation@IDA have also helped Latize create a steady pipeline. Earlier this year in April, Latize opened its first overseas office in Sydney (http://latize.com/latize-global-expansion-plans-see-new-o…), Australia, with IE Singapore’s support, to target the growing global demand in data management and analytics. Together with the rapidly emerging semantic processing interest, this is creating many opportunities for Latize in being an early mover in this sector.
Latize CEO, Vikram Mengi said, “We will be releasing a host of exciting new features in the coming months to increase our product’s capabilities to discover and extract meaningful insights. Such on-going research and investments into our product will enable us to stay ahead of the competition.” He added, “In fuelling our next growth phase internationally, the support from both IDA and IE Singapore has been instrumental. The strong endorsement from IDA through Accreditation will enable Latize to strengthen our credentials and open doors to international buyers. With the opening of new offices in Sydney and key additions to the international team, we believe Latize is perfectly positioned to offer its solution to the greater Asia-Pacific region.”
Edwin Low, Director of Accreditation@IDA said, “We are both pleased and encouraged that Latize has closed this new round of funding; both the funding and VC institutional support will help propel the company’s growth. Accreditation@IDA will continue to help innovative start-ups, like Latize, to grow both locally and internationally.”
As an accredited product, Ulysses continues to be the top linked data analytics solution in Singapore and the strong support from IDA has been pivotal in helping Latize become a leader in the market.
Headquartered in Singapore and founded in 2009, Latize is the developer and global distributor of Latize Ulysses, a semantic linked data management software suite for data capture, data transformation, and data utilisation. An IDA Accredited Product, Latize Ulysses uses a differentiated and innovative approach to managing big data, harmonising disparate internal and opendata sets into an intelligent web of user-centric insights for better and faster decision-making. For more information, visit www.latize.com
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