PALO ALTO, California — May 03, 2016 — Maana, the advanced analytics platform that operationalizes big data insights into line-of-business applications, today announced that the company has raised $26 million in Series B funding led by Saudi Aramco Energy Ventures, the corporate venturing arm of Saudi Aramco, the world’s largest integrated energy enterprise. Also new to this round of financing is Shell Technology Ventures, the corporate venture capital arm of Shell. Existing investors GE Ventures, Chevron Technology Ventures, Intel Capital, and Frost Data Capital also participated in this round. Maana is the first startup in big data analytics and IoT, to raise such a large amount of funding primarily from strategic investors. Series B brings the total funding raised to-date, to over $40 million. This round also brings together some of the world’s largest oil and gas and industrial enterprises as investors, many of which are also Maana customers and have seen the speed at which Maana enables them to optimize their key industrial assets and business processes.
Dhiraj Malkani, Investment Director at Saudi Aramco Energy Ventures and Andy Fligel, Director at Intel Capital, will join the Board. Carl Stjernfeldt, North America Venture Manager at Shell, will join as a Board Observer.
“Maana invented the enterprise knowledge graph, taking asset and process optimization to the next level. Our platform is unique in the way it forms operational knowledge from data in silos and translates this knowledge into recommendations for thousands of employees to make better day-to-day decisions,” said Babur Ozden founder and chief executive officer at Maana. “We are very proud of the fact that our investors share our vision regarding the significance of the enterprise knowledge graph as a unique innovation in big data analytics for asset optimization. The business value that Maana is delivering to their organizations and customers is unlike any other technology available in the market today.”
“We decided to invest in Maana after seeing first-hand the business value that Maana’s platform delivers in optimizing assets and processes at some of the world’s largest industrial companies. Maana’s patented invention, the enterprise knowledge graph, is transforming big data analytics with game changing technology that solves some of the most challenging enterprise problems,” said Dhiraj Malkani, Investment Director at Saudi Aramco Energy Ventures. “Maana’s marquee list of Fortune Global 500 customers is testament to the tremendous market opportunity that lies ahead for Maana.”
Maana Drives a New Paradigm in Big Data Analytics for Asset Optimization
Maana invented the “enterprise knowledge graph” for industrial asset optimization. At the center of its advanced analytics platform is its patented enterprise knowledge graph. This breakthrough innovation in knowledge technology enables distributed, high-speed computation for data mining and machine learning across all data silos and data types to provide a holistic view of assets and business processes to be optimized.
This new paradigm in big data leapfrogs over the traditional “data lake” concept into the world of knowledge. Instead of simply extracting data from their current silos and placing them into a “lake,” Maana takes the data from silos and organizes it into a knowledge graph that enables analysts, subject-matter experts, and data scientists to truly collaborate –– for the first time –– on solving the toughest business problems. Over time, Maana’s enterprise knowledge graph grows and itself becomes a key information asset, capturing the complex relations and dynamics of how the business and its core assets operate. By capturing and representing operational knowledge, more people have access to it, enabling wider knowledge sharing transfer that leads to optimization of those assets and processes. Maana then enables subject-matter experts and business analysts to translate those big data insights into recommendations and embed them into line-of-business applications for thousands of employees to make smarter day-to-day decisions.
This investment will be used to expand product development, and build the sales and marketing teams to dramatically scale go-to-market and meet the continued demand for its platform.
About Chevron Technology Ventures
Chevron Technology Ventures pursues business solutions and technologies with the potential to improve Chevron’s base business operations by finding, sponsoring and demonstrating emerging technologies, and championing their integration into Chevron to improve business value. The Venture Capital Team invests in companies at any phase in the development cycle – from providing early-stage seed investment to offering capital for full-scale commercialization – and helps transfer the technology into the business. www.chevron.com/ctv/ctvi/
About Frost Data Capital
Frost Data Capital is a combined incubator and venture capital firm with a unique approach designed specifically to capture some of the enormous value that will be created as the “Big Data” revolution unfolds. Based out of Southern California, Frost Data Capital has built an ecosystem of innovative start-ups with deep expertise in big data, entrepreneurialism, advanced technology, analytics, and the Industrial Internet. www.frostdatacapital.com
About GE Ventures
GE Ventures is committed to identifying, scaling and accelerating ideas that will make the world work better. Focused on the areas of software and analytics, advanced manufacturing, energy and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE’s technical expertise, capital, and opportunities for commercialization through GE’s global network of business, customers, and partners. GE Ventures is headquartered in Menlo Park, CA. For more information, please visit www.geventures.com.
About Intel Capital
Intel Capital, Intel’s strategic investment and M&A organization, backs innovative technology startups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested US$11.7 billion in 1,445 companies in 57 countries. In that timeframe, 212 portfolio companies have gone public on various exchanges around the world, and 383 were acquired or participated in a merger. Through its business development programs, Intel Capital curates thousands of introductions each year between its portfolio executives and Intel’s customers and partners in the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
About Saudi Aramco Energy Ventures (SAEV)
Saudi Aramco Energy Ventures is the corporate venturing subsidiary of the Saudi Arabian Oil Company (Saudi Aramco), the world’s leading fully integrated energy and petrochemical enterprise. Headquartered in Dhahran with offices in North America and Europe, SAEV’s mission is to invest globally in start-ups and high growth companies with technologies of strategic importance to its parent, Saudi Aramco. For more information about SAEV, visit www.saev.com
About Shell Technology Ventures
Shell Technology Ventures (“STV”) is the corporate venture capital arm of Royal Dutch Shell plc (“Shell”). With major offices in Europe and the USA, STV invests in technology companies to enhance the development of new technologies that have the potential to create substantial deployment value in Shell. Continuing Shell’s tradition in venture capital since 1998, STV’s investment focus includes oil & gas, renewable energy technologies, water and IT. STV co-invests with other corporate investors, venture capital funds and angels and will invest in both early stage and late stage (growth capital) companies. For more information, please visit http://www.shell.com/energy-and-innovation/innovating-together/shell-technology-ventures.html
Maana organizes the world’s industrial data and human expertise into digital knowledge to enable millions of experts to make better decisions affecting the global economy and human civilization. Using our Knowledge Platform™ and its proprietary Computational Knowledge Graph™, Fortune Global 500 industrial companies drive answers to operational questions that direct the future. Operating internationally, Maana is a privately-held company with offices in Menlo Park, California; Bellevue, Washington; Houston, Texas; London, UK; and Dhahran, Saudi Arabia.
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