Keebo, a data learning platform in Ann Arbor, announced today the closing of a Series A financing round led by True Ventures, bringing Keebo’s total raised since inception to about $15 million.
Investors to date include Neotribe, Pear, 406 Ventures, and Uncorrelated Ventures, all of whom participated in Keebo’s Series A, along with new investor True Ventures.
“Keebo has created the first fully-automated data learning platform on the planet that can optimize queries and reduce infrastructure costs overnight without the customer having to lift a finger,” says Barzan Mozafari, founding CEO of Keebo. “There aren’t a lot of products out there where you can spend 30 minutes setting it up and then wake up the next day to see hundreds of thousands of dollars in net savings.”
Today, Keebo also announced fully automated Warehouse Optimization, a novel hosted capability that will allow businesses to significantly reduce the cost of their cloud warehousing — by 30 to 60 percent on average — and free up their data teams to focus on work with clear business value rather than relying on manual optimizations for their workload and data infrastructure.
Keebo has significantly grown its revenue and organic growth with short sales cycles and zero churn. The company currently works with a range of businesses including Allbirds, TUI, Barstool Sports, and PayJoy to reduce their warehousing costs and optimize queries so their data operations and data engineering teams can focus on growing revenue.
The launch of Warehouse Optimization brings Keebo one step closer to its goal of eliminating the operating expenses barrier for running analytics in the cloud. Cloud data warehousing has eliminated the upfront cost but has increased operating expenses.
Companies spend significantly more on operating cloud services due to a large gap between their default and optimized performance. To that end, cloud data services have become difficult to operate and optimize due to the complexity of modern data pipelines and scarcity of experts.
“The Keebo team is solving an incredibly hard technical problem while simultaneously addressing some of the biggest challenges for any company — cloud data cost savings and optimization,” says Puneet Agarwal, partner at True Ventures.
Data teams typically spend 30 to 40 percent of their time on developing features that ensure their infrastructure cost and performance will remain reasonable. This new offering allows users to do more with less, onboarding more applications and data sources into the cloud data warehouse without worrying about exceeding budget.
“Keebo takes care of the things that I don’t want to think about or deal with,” saysTrish Pham, head of analytics at PayJoy, a Keebo customer. “It requires no work on my end. Even if I loved manual optimization, I couldn’t possibly achieve what Keebo achieves automatically. I log in for a few minutes every few weeks just to see what Keebo is saving us. I used to spend hours on manual optimizations every week.”
The company’s recent financing recognizes Keebo’s consistent organic growth and market opportunity and will help the team continue to grow in size and the product to deliver more value to its rapidly growing user community.