Press Release
Mode raises $7.5 Million Series A to Continue Building the Analytics Platform of the Future
Led by Foundation Capital, the Series A investment round fuels growth and innovation. New product features rolling out to further empower analysts at data-driven companies.
SAN FRANCISCO, Calif., August 20, 2015—Mode, the collaborative analytics platform helping companies unlock the value of data, today announced a $7.5 million Series A investment round led by Foundation Capital with participation from existing investors Goldcrest Capital and Arnold Capital. The new capital will enable Mode to expand it's platform and accelerate growth, bringing a more efficient, seamless way of creating and sharing data analysis to data analysts everywhere.
"By joining together the entire data analysis process in one place, Mode helps analysts avoid distractions caused by disjointed query and visualization tools, enabling them to spend more focused time on crafting and distributing answers," said Mode CEO Derek Steer. "With the support of Foundation Capital and other thought leaders in analytics, we're continuing to deliver on our vision of a product created by analysts for analysts."
Mode, which launched just over a year ago, has seen rapid adoption by analytical businesses across a variety of industries, including fast-growing companies like Zenefits, Lyft, Thumbtack, and Clover Health. Today, analysts and their business partners use Mode to run over 20,000 SQL queries per day to share ideas, power dashboards, and democratize access.
"At Foundation, we invest in products people love, built by teams with vision. There's more pressure than ever on analysts to turn raw data into actionable insights. Mode is uniquely positioned to help analysts deliver real value to every department in an organization." said Foundation Capital General Partner Steve Vassallo, who is joining the company's board of directors.
Today’s funding announcement coincides with a product launch that further increases the speed and flexibility with which analysts can craft meaningful data stories. When Mode launched in June 2014, it brought version control to SQL—tightly connecting a query, its results, and a chart. The new features provide the same tight organization, but with support for deeper explorations that require iterative queries, each layered with multiple visualizations.
"Seeing a trend or seeing a graph always answers one question but asks three more. I love that with Mode, everyone at TuneIn is asking those three more questions," said Miju Han, Data Science and Analytics Manager at TuneIn. "Mode has been a game-changer for the efficiency of the analytics team."
In addition to its collaborative platform for corporate analytics teams, Mode is committed to contributing to the burgeoning analytics community. It provides educational resources for SQL and analytical thinking, shares many of its internal analytical methods, and offers its tools for free to anyone working with public data.
Visit mode.com to get started.
About Mode
Mode builds technology that helps analysts unlock the value in data. As the single source of truth for ad hoc analysis, data tools, and dashboards, Mode's collaborative analytics platform makes a profound impact on an entire organization's ability to use its data effectively. Prospective customers can get connected to and start writing queries against Amazon Redshift, BigQuery, Hive/Impala, MySQL, Postgres, and Presto, among other data sources, within minutes of signing up. Mode also supports the analytics community with free learning resources, open source SQL queries, and offers its tools for free to anyone analyzing public data. Mode is headquartered in San Francisco, California. To start a free trial or learn more, visit https://mode.com
Mode is a pending trademark of Mode Analytics, Inc.
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