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Workstream, a New York-based firm that gives a complete answer to streamline enterprise analytics workflows, as we speak introduced it has raised $7 million in a seed spherical of funding.
Modern enterprises, notably massive organizations, keep heterogeneous technical environments with groups counting on a spread of digital instruments to handle, analyze and devour information. These options play a significant function in driving higher enterprise outcomes, but additionally create main friction factors on the similar time by leaving information scattered throughout numerous techniques.
In different phrases, if not dealt with successfully, information and analytics belongings can shortly turn into fragmented, affecting the group’s capacity to leverage them successfully for decision-making.
Workstream centralizes analytics belongings
Nicholas Freund, the corporate’s founder and CEO, confronted comparable challenges throughout his stints at Tesla and BetterCloud. To resolve the issue, he launched Workstream, a platform that consolidates analytics belongings from completely different information consumption instruments and capabilities in a single place.
“Workstream allows data teams to centralize their key analytics assets in a single place — from reports in BI dashboards to one-off analysis in spreadsheets, docs or notebooks to operational reports living in tools like Salesforce,” Freund instructed VentureBeat by way of e-mail.
The answer integrates straight with the analytical instruments and surfaces info collaboratively, permitting groups from completely different departments to not solely entry but additionally contribute to the information with useful context. It robotically categorizes the belongings and curates supported information merchandise with written descriptions, video explanations and FAQs.
“We reduce the time required of data teams to support unplanned requests and issues and enable them to focus their time and energy on activities that add more long-term value,” he mentioned. “Simultaneously, we build cross-departmental usage of data by providing more consistency and context for business stakeholders across the organization.”
Currently, in public beta, the product integrates with main information instruments, together with Google Workspace, Tableau and Jira, and supplies add-on options like information concierge to serve information to enterprise stakeholders of their workflow and asset administration to present perception into how the information belongings are getting used and the way they’re impacting enterprise choices.
With the brand new funding, which was led by Lerer Hippeau, Workstream plans to develop its group throughout capabilities and proceed the work on its product. The focus, in accordance to the cofounder, might be on three key areas: bettering the expertise of the product; advancing workflow automation and utilization insights capabilities, and supporting extra integrations to ensure it really works with any instrument that companies use to devour and analyze information.
The product is anticipated to turn into typically out there by the tip of 2022 or in early 2023, he added.
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