Big Data and big names: RelateIQ raises $20M

RelateIQ, led by CEO Steve Loughlin, raised $20 million in Series B funding as it applies Big Data analytics to relationship management.

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Cromwell Schubarth: Senior Technology Reporter- Silicon Valley Business Journal; Email | Twitter | Google+

A Palo Alto startup with an impressive list of backers has raised $20 million in Series B funding to help it bring Big Data tools to relationship management.
Palantir co-founder Joe Lonsdale's Formation 8 fund and early Facebook-backer Accel Partners co-led the new financing of RelateIQ, which was co-founded by Adam Evans and Steve Loughlin.
Chief Technology Officer Evans was with Palantir for two years before becoming an entrepreneur in residence at Morgenthaler prior to co-founding RelateIQ. CEO Loughlin was also a Morgenthaler entrepreneur in residence and he was an adviser at Palantir.
Other funders include Facebook co-founder Dustin Moskowitz, Battery Ventures, Allen & Co., AMC Cloud Ventures (through Yahoo co-founder Jerry Yang) and Thrive Capital.
RelateIQ's advisers include Apple board member and former Intuit CEO Bill Campbell, former LinkedIn chief scientist DJ Patil and Octel Communications founder Bob Cohn.
While the company, which has raised a total of $29 million, managed to keep a low profile for much of its first two years, it is hardly in stealth with a slick website and video that talks about how it plans to vault customer relationship management into the future.
It plans to do that by automatically collecting information across an organization that is now entered manually and applying analytics to it to derive actionable information.
The Wall Street Journal reported on Thursday that the funding values RelateIQ at about $100 million.
The Journal said that RelateIQ employs about 30 people and scans about 10,000 emails, calendar entries and other data points per minute when installed for a new client.
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Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.

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