A Baltimore startup posted another seven-figure raise to start 2017.
Yet Analytics closed on $1 million in new funding, said CEO Shelly Blake-Plock.
The investors are both from the region. Grotech Ventures is based in Virginia and has a Maryland presence. Propel Baltimore Fund II, is managed by Columbia-based TCP Ventures.
The data-driven company has now raised $2.3 million, following a seed round in November 2015.
Yet’s technology, which is built on the Department of Defense–developed xAPI, allows companies to analyze data about their talent. The ETC Eastern-based company has been building out the product, and showing how it can collect various types of data. Yet recently added data visualization capabilities. A new website that also rolled out this week has case study information from work with the National Association of Broadcasters and UC Davis, among others.
“The thing they all had in common was the desire to identify and understand the behavior and performance of their people assets,” Blake-Plock said in an interview. “They want to know about their talent. Right now.”
Blake-Plock said the timing of the new funding is important as he sees a transition from “education of the market to the market coming towards us.” They are also looking to invest in enterprise sales and dev talent.
“We are excited to be working together to build a world class business,” said Lawson DeVries, General Partner at Grotech Ventures. “Yet Analytics is led by passionate founders, they’ve got a big market opportunity and they are an example of the kind of early stage company we can get behind.”