Quaris, a provider of
on-demand business intelligence applications, today announced the closing
of its Series A round of funding led by Foundation Capital and Partech
International. With a patented technology that delivers large scale,
high-value analytic applications more quickly and cost-effectively than
other available solutions, Quaris dramatically improves the way companies
deploy and leverage business intelligence.
Assisted by the new funds, Quaris aims to solve the current industry
issues associated with cost, slow turnaround and limited information. The
company's first set of applications focuses on customer behavior analysis
to help companies improve the sales, marketing and customer service
initiatives. The funding will also enable Quaris to drive market awareness,
acquire new customers and extend its management and engineering teams.
"With our unique technology and approach to business intelligence, our
on-demand offering is poised to change the business intelligence landscape
as we know it, and this funding will enable us to start achieving that
goal," said Brian Kelly, CEO, Quaris. "Companies are increasingly looking
to leverage data analysis and business intelligence for a competitive edge,
and Quaris provides the services to meet the needs of both large and small
businesses in a cost-effective, efficient way."
Through its Software-as-a-Service (Saas) applications, Quaris provides
analytic services for companies who require detailed data analysis, but do
not have the time or resources to deploy the heavy and expensive
infrastructure required. Quaris On-Demand is based on the company's
patented data management technology to provide business-user centric
analysis for vast amounts of data.
"The on-demand Business Intelligence market is on the verge of
explosive growth as organizations, including sales, finance and marketing,
recognize the value in detailed data analysis but are frustrated by the
high cost of ownership and limits of current solutions," said Warren Weiss,
general partner, Foundation Capital. "We believe that Quaris' unique
solution will help make it a leader in this emerging market."
"As large and small companies continue to see the concrete benefits of
cost-efficient and powerful analysis, there is an increased recognition of
the market need for business intelligence services," said Vincent Worms,
co-founder and managing partner, Partech International. "With its
innovative, patented technology and distinctive approach, Quaris is already
providing Fortune 100 and small companies alike with results that are
changing the way business managers gain and use information derived from
their data."
With several beta customers for its on-demand business intelligence
solutions, Quaris will formally launch to the marketplace in early 2008.
Weiss will join Kelly and Worms on Quaris' Board of Directors.
Quaris
Quaris provides on-demand analytic solutions to help companies perform
large-scale data analysis at an absolute fraction of today's costs. Through
patented technology that translates data into useful information, companies
can leverage Quaris' SaaS business intelligence solutions to gain a
competitive edge. Headquartered in San Mateo, CA, Quaris is funded by
Foundation Capital and Partech International.
Source: Quaris
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