Skytide Secures $6 Million in Financing from El Dorado Ventures and Granite Ventures
San Mateo, California, August 15, 2005 — Skytide, an emerging leader in the business process optimization space, today announced that it has received a $6 million investment from El Dorado Ventures and Granite Ventures, LLC to continue product development and for the expansion of Skytide’s sales and marketing efforts.
Skytide’s unique analytical platform was designed from the ground up to provide organizations with insight from information not previously available for business analysis. Skytide’s early customers are using the valuable insight gained from the technology to optimize core business processes to increase revenue, customer acquisition and customer satisfaction.
Changes in the way business is conducted has produced volumes of critical information about customer and partner interactions, orders, trades, contracts, and quote flows in and out of dynamic, externally facing systems such as online services, contact centers, and customer acquisition systems. This data is organized and exchanged in a wide variety of complex and frequently changing XML-based formats. In this environment, analysis using traditional tools becomes difficult, time consuming and costly.
Skytide provides the industry’s first solution specifically designed to address the business intelligence challenges inherent in dealing with new complex data sources such as XML and the environment of change that it fosters. The Skytide solution enables organizations to leverage all their data, regardless of how complex and fluid, in order to rapidly reshape business processes to meet user demands.
Skytide founder Joseph Rozenfeld states, “Skytide provides the ability to leverage the full continuum of data that organizations are faced with, and very quickly and easily perform meaningful analysis. Where business intelligence has left users wanting, Skytide can deliver.”
About Skytide, Inc.
Skytide enables organizations to answer a new array of difficult questions about revenue opportunities and operational risk more quickly and thoroughly than ever before. The patent-pending Skytide Analytical Platform is agile enough to respond to rapidly changing intelligence needs, and powerful enough to perform multidimensional analysis on the most complex and dynamic data, enabling our customers to perform new types of analysis which are impossible with traditional analytical tools. Skytide is a privately held company funded by Granite Ventures and El Dorado Ventures.