/// Tidemark Comes Out of Stealth With Funding from Greylock, Andreessen Horowitz

October 18, 2011  |  All Things Digital

Its been a little more than a year since the word went around that Andreessen Horowitz had invested $6.3 million in a mysterious stealth startup called Proferi. Today that company is coming out of stealth and with a new name: Tidemark. It’s also got a new round of funding including an investment from Greylock Partners, that brings its total capital raised for far to $11 million. Also on board are Peter Currie, president of Currie Capital, and Phil Wilmington, former co-president of PeopleSoft and the CEO of OutlookSoft, have joined Tidemark’s board of directors. Also on the board are Aneel Bhusri, co-CEO at Workday and a Greylock Partner, and Ben Horowitz, partner at Andreessen Horowitz. Tidemark is building what it calls an Enterprise Performance Management application, all in the cloud, but its also built from the ground up with mobile applications in mind. Last week I had lunch with CEO Christian Gheorghe, and I have to say at first what he described to me sounded a lot like what I’ve heard from lots of other companies wanting to give business leaders useful, up-to-the-minute business information they can act on. Too often in business intelligence and analytics projects fail to deliver Gheorghe says because they’re good a showing data, but lousy and leading to action. “They give you a lot of information but the next step is what to do about it,” he says. “What are the courses of action I can take, how do I react to what’s happening?” And maybe this sounds familiar: Data from application that you’d like to use in another is tricky to move over. “We call it the alt-tab syndrome,” Gheorghe says. “You have to alt-tab between applications some of which were built before the Internet, back in the client-server era.” Lots of the existing business intelligence tools are old, not designed to be mobile, not designed to handle volatility in the markets, and they don’t deal well with unstructured data, which everyone seems to want to get a handle on these days. Gheorghe spent five years and change at SAP including a stint as its CTO, by way of its acquisition of OutlookSoft. He then spent about nine months as Greylock’s Entrepreneur in Residence. During that time he realized a perfect storm was happening: If you had to build the business of analytics from scratch if you had to, it would be solve the problem of making both cloud-ready and mobile, but also ready to handle mountains of big data. “We found a lot of pain in the core analytic processes that companies had spent a lot of money trying to solve,” he says. Pain like that creates an opportunity for the one who can make it go away

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Tidemark Comes Out of Stealth With Funding from Greylock, Andreessen Horowitz

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