Outlier, an Oakland, Calif.-based automated business analysis company, closed its $22.1M Series B round of funding.
The round was led by Emergence, with participation from existing investors Ridge Ventures, Capital One Growth Ventures, 11.2 Capital, First Round Capital, Homebrew, Susa Ventures and SV Angel. In conjunction with the funding, Joe Floyd, general partner at Emergence, will be joining the Outlier Board of Directors.
The company plans to use the funds to accelerate growth and make strategic hires across its Oakland, CA headquarters and Virginia Beach, VA, and European offices.
Led by Sean Byrnes, CEO and co-founder, Outlier provides an automated business analysis (ABA) platform that offers proactive, actionable insights based on large volumes of data without requiring any configuration or set-up. The system discovers unexpected changes, patterns and potential root causes in data automatically, guiding teams toward the most relevant and critical changes across an organization on a daily basis to allow users to act quickly to make adjustments.
The company serves several global consumer, financial services and life sciences organizations.