Confirmed: Periscope Data raises $25 million from Bessemer Venture Partners

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Periscope Data, the company that helps data scientists quickly turn their findings into easily digestible visualizations, has confirmed the raise of $25 million in Series B funding.

We originally reported on this funding news last week, and mistakenly named the wrong lead investor. Bessemer led the round, with participation from existing investors, including DFJ, Susa Ventures, Innovation Endeavors and AngelPad.

As a part of the deal, Bessemer’s Ethan Kurzweil will join the board at Periscope Data.

“The data within the enterprise has always been highly valued, but organizations have struggled to access and share critical information,” said Ethan Kurzweil, partner at Bessemer. “Today, enterprises that invest in data and empower their data teams with the best platforms have an important strategic advantage over their competition. We invested because Periscope Data helps data scientists do their jobs better and are now empowered to help their organizations win.”

CEO Harry Glaser told TechCrunch that the next phase for the company is around preparing for larger enterprise customers by expanding the product and the go-to-market strategy. He explained that one of the great challenges for Periscope Data is selling to data scientists.

“Reaching and empowering data scientists is different from reaching sales or IT or human resources. Those sales cycles are well established,” said Glaser. “Selling to a technical audience is something Ethan is deeply experienced in.”

Periscope Data generates revenue by charging based on data volume, but Glazer sees an opportunity to add more premium features for large enterprise companies. These features could range from reporting and collaboration to security and authentication.

This latest round brings Periscope Data’s total funding to $34.5 million, according to Crunchbase.