In recent years, the expansion of business intelligence tools has been aimed at aiding companies in making crucial business decisions based on data analytics. However, as data adoption increases within organizations, they are confronted with growing administration issues. Logan Havern, the co-founder and CEO of Datalogz, highlighted the challenges posed by the proliferation of reports within data-mature organizations. The resulting sprawl leads to increased costs, risks, and labor efforts, which could have significant business consequences.
Key Takeaway
Datalogz has secured an additional $5 million in funding to address the challenges posed by the proliferation of business intelligence tools, aiming to optimize BI environments and mitigate the associated risks and costs.
Datalogz’s Mission to Address Business Intelligence Challenges
Datalogz is on a mission to optimize BI environments and mitigate the risks and costs associated with decision intelligence software. Following its $2.3 million financing round led by Squadra Ventures in February, the company has now raised an additional $5 million, with Great Point Ventures taking the lead. Notable participation in this round also came from Graphene Ventures, Squadra Ventures, Berkeley Skydeck, Defined VC, Mana Ventures, and Trajectory Ventures.
Addressing the Challenges
Logan Havern’s experience at JetBlue revealed the rapid growth of reports as the airline invested in digital transformation. The surge in reports, each tracking different key performance indicators, led to potential inefficiencies and unwanted costs. Datalogz aims to provide solutions to these challenges by leveraging its algorithm-driven automation tool to optimize BI environments and generate insights for risk reduction, security improvement, and cost cuts.
Competitive Edge and Customer Base
Unlike traditional consulting firms, which charge significantly higher fees for BI audits and clean-ups, Datalogz offers a price advantage. The company’s automation tool streamlines the process, resulting in a fraction of the cost and resources required by consulting firms. Datalogz has already secured customers such as American Bureau of Shipping, Gateway Services, and SSA & Company, and is targeting ten enterprise customers by early next year.
Leadership and Team
Headquartered in Long Island City, Datalogz is led by Logan Havern and his team of co-founders, including Pablo Lerdo, Tina Bhatia, and Tom Juntunen.
