Socrata, Inc.
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Socrata, Inc. - overview
Established
2007
Location
Seattle, WA, US
Primary Industry
Software
About
Socrata, Inc. is an advanced data analytics company that provides innovative solutions to enhance decision-making for businesses in various sectors, including finance, healthcare, and retail. Founded in 2007 in Seattle, US, Socrata, Inc. specializes in data analytics solutions that support informed business decisions.
The company was acquired by Tyler Technologies, Inc. in May 2018, following a TRADE SALE valued at USD 150. 00 mn. The company's CEO is Lynn Moore.
Socrata, Inc. offers advanced data analytics solutions that optimize decision-making for businesses across multiple industries. Their primary product is a robust analytics platform, integrating machine learning capabilities to provide actionable insights from large datasets. Launched in 2018, the platform caters to sectors like finance, healthcare, and retail, addressing challenges such as market trend analysis and customer behavior prediction.
The diverse client base includes mid-sized enterprises and Fortune 500 companies in North America, Europe, and Asia-Pacific, with end users ranging from data scientists to executive management teams. Socrata, Inc. operates on a subscription-based revenue model, allowing clients to access their analytics platform via tiered pricing plans. These plans cater to various customer segments, from small businesses to large enterprises needing extensive data solutions.
Revenue is generated through annual or multi-year contracts, ensuring predictable income for the company, alongside partnerships with key industry players that enhance offerings and create additional revenue streams through co-branded solutions. Socrata, Inc. plans to leverage recent funding from the TRADE SALE to expand its product offerings and enter new markets. The company aims to enhance its analytics platform with new features by late 2023 and is targeting growth in European and Asia-Pacific markets by 2024.
The funding will support the development of innovative solutions that meet the evolving needs of clients, thereby driving business growth and enhancing customer engagement.
Current Investors
Morgenthaler Ventures, Frazier Technology Ventures, OpenView
Primary Industry
Software
Sub Industries
Legal Software, Analytics & Performance Software, Accounting/Finance Software
Website
www.socrata.com
Verticals
Big Data, Cloud Computing
Company Stage
Acquired
Total Amount Raised
Subscriber access only
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