Omni Raises $69M to Enhance Data Analysis Tools
- Omni raises $69M in Series B funding
- Omni's platform simplifies data analysis for companies
- Key features include ad-hoc data analyses, visualization tools, and Excel compatibility
- Omni plans to use funding to develop its platform and expand its team
- Company values at $650 million
Introduction to Omni
Omni is a business intelligence (BI) platform that aims to simplify how organizations work with their data. The company was co-founded by Colin Zima, who previously led the Search quality team at Google and was the chief analytics officer at Looker.
According to Zima, many companies today are expected to make decisions through careful data analysis, but the tools they need to do it are often clunky, slow, or outdated. Omni's platform is designed to address this issue by providing a user-friendly interface for creating data queries and dashboards, as well as tools for building visualizations and creating custom data models.
Key Features of Omni's Platform
Omni's platform offers a range of features, including the ability to run ad-hoc data analyses, build charts and reports, and create visualizations with components such as hyperlinks, text, and images. The platform also provides a compatibility layer for Excel spreadsheets and formulas, and can take raw SQL and automatically parse and restructure it into modeled concepts that can be accessed in Omni's interface.
One of the key benefits of Omni's platform is its flexibility and customization options. According to Zima, the platform is designed to be simple enough for anyone to get started quickly with exploration and dashboards, but also flexible enough to handle deep customization and sophisticated data models as needs evolve.
Funding and Growth
Omni has raised $69 million in Series B funding, which was led by ICONIQ Growth and saw participation from Theory Ventures, First Round Capital, Redpoint Ventures, GV, and Snowflake Ventures. The funding brings Omni's total raised to $97 million and values the company at $650 million.
Omni plans to use the funding to continue developing its platform and expanding its team. The company currently has 85 employees and expects to end the year with 150. Zima said that the funding will help Omni keep the foot on the gas around embedded analytics and spreadsheet functionality, and allow it to double down on hiring across its product and go-to-market teams.