At a time when instant messaging is taking on increasing importance in the workplace, one company's "instant awareness" technology has drawn investors' interest. FirstRain, a New York developer of business-intelligence software, said last week that it raised $11 million in second-round funding led by Allegra Partners, Diamondhead Ventures, St. Paul Venture Capital, and Myriad Investments.
FirstRain offers technology that snips content from pages on business intranets or the Internet, aggregates the data, and updates it in real time for immediate access by employees. The content can be downloaded to PDAs and other wireless devices.
The software can be used to track sales figures, the stock market, or dynamic pricing on exchanges, says FirstRain founder and CEO Gaurav Rewari.
FirstRain previously received $2.3 million from angel investors who included Stanford University president John Hennessy, Sun Microsystems chief technical officer Greg Papadopoulos, and consulting firm McKinsey & Co. CEO Rajat Gupta.
The Business of Going DigitalDigital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.
What The Business Really Thinks Of IT: 3 Hard TruthsThey say perception is reality. If so, many in-house IT departments have reason to worry. InformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business views IT's performance in delivering services - and, more important, powering innovation. The news isn't great.