Glassbeam is a business analytics software company with a unique technology and solution to convert semi-structured data into actionable information. The company has been recognized as a Gartner “BI Cool Vendor” in 2009 along with recent coverage from other leading analyst companies such as 451Group and Aberdeen Group. Glassbeam’s current market strategy is focused on providing product analytics solution for product operational data targeted at customers in high tech manufacturing verticals. Every high tech product manufacturer collects product operational data such as logs from its customers either proactively as call-home feature or reactively as support bundles when devices fail. As devices have proliferated and internet has become more pervasive, there is thousands of terabytes of such data being collected and retained over months for analysis and trending. As a result, vendors are spending millions each year on ad hoc DW and BI projects to build home grown analytic solutions to collect, store and analyze this data. Unfortunately, such solutions take months/years to complete with severe constraints around future scalability and flexibility. Instead the Glassbeam solution offers “out of the box” product analytics that can be implemented in 4 weeks or less. It can deliver proven ROI through 20% savings in support costs, 25% increase in service revenues and strategic benefits across engineering, sales & marketing through real time installed base analytics.
Glassbeam brings some exceptional credentials to bear as a leading start-up in Business Intelligence software/ SaaS / Cloud category, namely:
1. We are first-to-market a “product analytics” solution that is entirely focused on “product operational data” mining. There is no other packaged application or SaaS vendor yet to design and sell this solution to product manufacturers today. Our key differentiation is encapsulated in a patentable language called SPL™ (Semiotic Parsing Language). SPL is to Data Warehousing as SQL is to Reporting. With SPL, we have an extremely efficient technology and process to create scalable data warehouse from semi-structured data (e.g. log files). Our vision is to make SPL an industry standard and an open source tool for data warehousing in future as we gain market traction and acceptance of its compelling value proposition.
2. We have grown over last few years with a very capital efficient model. We have raised only $3M so far and all through Angels. Having learnt the hard lessons through tough times in 2009-10, we are frugal but at the same time practical on how to achieve future growth. As a result, our core financial strategy is to become financially independent as soon as possible, a target that we achieved in Q1 this year (Mar 31) by becoming profitable and cash flow positive. Soon, as we expand our customer base, we are likely to go and raise an institutional round with VCs in early 2012.
3. We have managed to acquire some big brand name customers to Glassbeam over last couple of years. IBM, EMC, HDS, Aruba Networks, BlueArc and Hansen Medical are some of the customers we service today with our SaaS revenue model. We have also launched recent POC programs with Cisco, Covidien, Riverbed and Nimble Storage. This is all very creditable given the fact that we have yet to hire a dedicated sales force into the company. With recent funding from TiE and TCA Angel groups (Oct 2010), our plan is to build out sales and marketing teams in 2011.