Nearing destroy-Even, Continuum Analytics Takes $10M Debt Financing
After doubling the size of its group of workers to one hundred forty five and almost tripling its customer base this year, Austin, TX-based information insights supplier Continuum Analytics is making ready itself for the possibility of making enough earnings to interrupt even in 2016, in keeping with co-founder and CEO Travis Oliphant.
The 4-12 months-outdated company announced this week that it has bought $ 10 million in debt financing from Silicon Valley financial institution, most effective about 5 months after the company raised a $ 24 million sequence A round that the corporate is the usage of to build out its analytics tools and to make bigger its sales and advertising efforts. Continuum made up our minds to are seeking for the financial institution funding so that has more cash in its reserves to spend money on the business if important, Oliphant says.
“This 12 months we’re flirting with wreck even,” Oliphant says. “The debt spherical is in reality an insurance plans to ensure we will regulate if wanted—simply in case we don’t damage even, we have now some capital reserves.”
Continuum sells data analytics tools to large companies, focused on the fact that more and more industries are gathering and utilizing knowledge to gain perception into their shoppers and operations. the company sells its platform, known as Anaconda, to firms in industries together with pharmaceuticals, monetary services and products, engineering, executive, oil and gasoline, and shopper merchandise, Oliphant says.
The tools, based totally in the programming language Python, takes massive knowledge units—such as tracking the success rate of advert campaigns or the time purchases happen at a grocer—and provides companies with insights, in particular within the form of visualizations, meant to give a boost to the industry, Oliphant says. The products and services are generally supposed for data scientists or analysts at firms, who are already finding out data, he says.
the cost of the corporate’s company services and products depend upon the number of debts a trade buys, and can vary from $ 10,000 per year to several hundred thousand bucks once a year, Oliphant says. Continuum’s consumer complete is now “within the hundreds,” he says.
Continuum’s platform is built on open-supply expertise, and the company also deals a free model of the Anaconda provider.
The series A funding got here in July and was once led by using normal Catalyst partners and BuildGroup. The debt financing comes in the type of a $ 5 million revolving credit score line that can be drawn and repaid, and $ 5 million of venture debt. project debt usually happens after a up to date financing round in a mission-backed company, equivalent to a series A, and is repaid like a mortgage, in accordance to Silicon Valley bank. it is is horny to entrepreneurs because it provides further capital without demanding fairness in return, the bank says.
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