GraphTech startup Palturai has raised €4 million in a Series A round, from FIV (Future Industry Ventures), VR Ventures and a number of other investors.
Founded by a team of credit bureau professionals in 2014, Palturai provides visualization tools and business intelligence, using data exclusively from official sources. Partnering with industry leaders such as SAP and Salesforce, Palturai solutions enable businesses across all industries to make better and faster decisions, reduce transaction costs, simplify compliance and risk management tasks, accelerate sales processes and market interactions, and improve quality of master data in business applications.
Whilst many organizations have extensive stores of data, they still view customers, suppliers, and prospects as isolated entities. Without understanding how they are interrelated, it’s challenging to discover new leads, access decision makers, identify trouble spots, and run a business with high-quality master data. Understanding who you are ultimately dealing with has also become a critical element for compliance, risk management and fraud prevention.
“Palturai sources its data from authoritative sources and uncovers business relationships typically not found in social networks,” said Philipp von Hagen, Managing Partner of FIV. “Integrating Palturai’s BusinessGraph about decision makers and ownership structures into core business processes improves relationship management, enhances efficiency, reduces risk and strengthens business integrity.”
FIV is investing in this round alongside lead investor VR Ventures and others to support the company’s operative expansion to new territories, in particular the US, and expand to new industry segments. The FIV as well as VR Ventures funds both leverage the Redstone platform, a rapidly growing VC service provider from Berlin and where investment funds are themed and structured around industry sectors and verticals.
