Mode Closes $550k Seed Financing to Build "GitHub for Data Analysis"

Mode, an online servicefor collaboratively analyzing data, has raised its first round of funding led by Yammer founder David Sacks. He is joined by several current and former Yammer executive s.

Currently, data analysts waste a lot of time recreating work that others have already completed in order to modify it slightly and gain some additional value.

By hosting a central repositor y of work – much like GitHub does for code – and intelligently surfacing that work to analysts in real time, Mode allows analysts to immediately address high-value problems without needing to first recreate work.

Mode also makes it easier for teams to audit each other's work or collaborate on complicated analyses, and allow s new analysts or those working on unfamiliar projects to ramp up quickly. These effects compound to make analysts much faster at producing high- quality work in any scenario.

"Without Mode, the work a given analyst does only makes that analyst better," said Derek Steer, CEO. "With Mode, that analyst's work makes her entire team better."

According to Sacks, "The rise of Big Data has exploded the demand for data analysts and in turn the need for tools to make them more productive. The founders of Mode, being data analysts themselves, have a deep understanding of how to address this need. It's the best case of founder/market fit I've ever seen. I believe Mode will ultimately revolutionize the way that data analysts work."

Mode will be available for individuals and teams to analyze their own data by uploading it to Mode's cloud storage or connecting their own databases. Mode is also putting its relevance algorithms to work to build a cohesive community for open data and analysis.The service will be free for anyone contributing to the open data community.

"As we've seen in software development, open source communities aren't just about reusing code – they're about collectively defining frameworks and best practices," said Steer. "An experienced Rails engineer can add value in an unfamiliar Rails app without much additional training. This is something the data analysis community desperately needs. It's an opportunity to accelerate the world's learning to an incredible degree."

Mode connects the world's data and the people who analyze it. Mode's collaborative analytics platform connects to a variety of data sources and organizes data, SQL code, and results in a simple package that's easy to share and work with as a team. Analysts save time and reduce duplicative work by using Mode to find and build on data-driven insights created by others. Mode offers innovative publishing tools for individuals working with public data as well as private workspaces for enterprise customers. Founded in 2013 and headquartered in San Francisco, Mode is currently in public beta. Sign up for a free account at mode.com.

Mode is a pending trademark of Mode Analytics, Inc.

For more information, contact:

Derek Steer, CEO
derek@modeanalytics.com