Based in London Fluenta data analytics platform, announced that it has secured $7.5 million (approximately €6.89 million) in a seed funding round led by Hoxton Venturesan early-stage venture capital firm based in London, and Tiferes Ventures.
Fluent makes it easy for teams to work together on data, avoiding confusion and disagreements by providing real-time collaboration and a shared data dictionary.
Clark Valberg, Managing Partner of Tiferes Ventures and Co-Founder of InVision, said: “Fluent is enabling an entirely new paradigm of collaborative intelligence by democratizing real-time access to data-driven insights at every organizational level.”
“I believe this is the most important strategic and cultural shift taking place in the modern enterprise.”
Charles Seely, Partner at Hoxton Ventures, added: “In a data-driven world, today’s approach to data analytics is failing to deliver on business expectations, creating ongoing bottlenecks in their organisations that slow everyone down and hamper decision-making.”
“Fluent’s approach is not only innovative, it’s urgently needed, and we’re excited to be part of their journey to reshape the way businesses interact with data.”
Use of capital
Fluent plans to use the funds to accelerate the development of its technology. In addition, the funds will be used to support the expansion of its team, particularly focusing on recruiting AI and machine learning experts across Europe.
Ian Weber, Partner at Bain & Company, said: “Fluent’s platform has helped us leverage LLMs to query and deliver insights from large, complex data sets.”
“Fluent enables our non-technical users to quickly get the answers they need in an efficient and accurate manner, especially for questions that are too complex or specific for pre-built data dashboards. We look forward to exploring how Fluent can help our customers better access data and insights in the future.”
“Ask questions directly about the data and get insights instantly”
Robert Van Den Bergh, CEO of Fluent, says: “On average, 40% of a data team’s time is spent answering questions across the business.”
“Many of these questions are easy for the data team to answer, but they distract them from the deeper, more strategic analysis that can transform their business.”
“With Fluent’s natural language interface, we help team members answer their own data questions.”
Current, one AI– The technology-based data analyst allows non-technical team members to ask plain English questions directly to their data. This process provides insights in seconds, relieving data teams of the burden of manually managing ad hoc data requests.
Fluent’s AI is equipped to answer questions ranging from specific customer insights to new feature launches and divisional financial performance. Over the past two years, the company has attracted flagship clients like Bain & Company to democratize data accessibility.
Cameron Whitehead, CTO at Fluent, adds: “Our customers adopted business intelligence tools, like Tableau and Looker, with the expectation that non-technical members of their team would query the data themselves, but they quickly discovered that these tools were too technical, resulting in only a small percentage of team members actually using them.”
“Fluent is designed to meet the needs of team members who are not data experts,” Whitehead adds.
