Privately owned Opera Solutions and MeLLmo Inc. are the latest business intelligence companies to receive investment funding to accelerate growth and fuel product development.
Opera Solutions, a fast-growing big data analytics company, recently announced $84 million in its first outside equity funding, led by Silver Lake Sumeru, with participation from Accel-KKR, Invus Financial Advisors, JGE Capital Management, and Tola Capital. The company says its advanced analytics solutions drive better business results for top-tier organizations in financial services, government, healthcare and other sectors.
"We are delighted that such a distinguished group of investors shares our optimism and confidence in Opera's strategic approach and our capabilities," said Arnab Gupta, CEO and founder of Opera Solutions. "Opera's core value lies in turning Big Data into Small Data – that is, using advanced machine intelligence to extract valuable signals and patterns from massive data flows and turn them into a stream of analytically enriched guidance brought to the front lines of our customers' businesses."
Opera provides a hosted delivery suite of analytics solutions that are powered by Vektor, its big data analytics and signals processing platform that can generate specific business process recommendations.
In other business intelligence funding news, mobile app provider MeLLmo Inc., announced that it has secured $30 million through its first round of institutional funding led by Sequoia Capital.
MeLLmo mobile applications allow users to view and interact with business information on-the-go. The company's flagship product, Roambi Analytics, is a mobile business intelligence solution that makes company reports and data easy to access and interact with via immersive dashboard-style analytics on any iPhone or iPad.
With this round of financing, MeLLmo said it will continue to transform the way business professionals interact with data by continuing to develop innovative Roambi products, expanding its San Diego headquarters and growing its worldwide presence.
"Enterprises and small-to-medium sized businesses alike have embraced the iPhone and iPad as business tools, making it possible for employees to view and interact with important company data in a revolutionary way," said Santiago Becerra, chairman, CEO and co-founder of MeLLmo Inc. "Through our partnership with Sequoia Capital, we will be able to meet the growing demand for Roambi throughout the world while also advancing our technology so it continues to deliver the best experience to its users."