At Zaloni, we have always prided ourselves on being self-funded and cash positive in this innovative and complex big data space. But there comes a point in every company’s evolution when you have to take a hard look at where you are, and where you want to be, and how you’re going to get there. For Zaloni, the demand for our products is phenomenal, and we are barely able to keep up with that demand.
This is why Bijoy and I are particularly excited about our announcement today. We closed $7.5 million in Series A financing led by Silicon Valley firm, Sierra Ventures, with participation from Baird Capital. This funding will allow us to grow at a much faster pace, and will give us the resources to grow in the future.
We look at this funding as gas in our tank. It’s not money we need to fund operations, it’s money that will help us enter new markets, expand our sales and marketing, build better products, and develop deeper partnerships.
The investment also gives us the confidence to enter more regions faster. It will allow us to enter more markets next year than we would have been able to without it. Recently we’ve expanded into the Asia Pacific region, and we expect to move into EMEA in the coming year.
Of course, product innovation is why most of us come to work. We want to solve customers’ problems. We want to innovate and develop transformational technologies that make it easier, faster and more cost-effective to do the things customers want to do with data. I don’t think that the investment will change our mission, but it gives us greater resources to build a better product. It gives us the ability to make bigger bets on the business, and to take our products further, faster.
We’re always excited to have great advisors. As the company grows, we have new challenges and it’s of great value to us that we can put even more bright, strategic thinkers on our board to help advise Zaloni on how to best grow the business. To that end, Mark Fernandes, Managing Director of Sierra Ventures, will join Zaloni’s Board of Directors.
Bijoy and I are excited that we’ve been able to build a remarkable business. The credit goes to the stellar team we have built here in RTP, in California, and in India. We are excited to leverage the expertise Sierra Ventures and Baird Capital have in the big data space and look forward to building on our success to date.
View our press release on the funding announcement here.
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