Hex Secures $5.5 Million Seed Funding to Enable Easier Data Sharing Across a Company

SaaS News -Hex-lands-$5.5M-seed-to-help-data-scientists-share-data-across-the-company(source: SaaS Industry)
At a Glance

Today, Hex, an interactive IT distribution platform, made two declarations. The first one being the major deal about the $5.5 million seed funding led by Amplify Partners, Operator Collective, Box Group, XYZ, Data Community Fund and a motley of individuals towards their goal of making the process of intra-organizational data sharing a more convenient process. The second announcement was that of their decision to bring the product out of the beta programming phase and introduce it to the mainstream market.

What Hex promises to do is enable the easy dissemination of a company’s data throughout all the working components of the company in the most efficient manner possible. Inspired by the founders’ personal experiences surrounding the hitches of internal-company data sharing from their time at Palantir, the start-up wishes to offer companies an innovative way of avoiding the prevalent issues when it comes to their data-sharing setup and processes. A Co-founder of Hex, Barry McCardel, when interviewed by TechCrunch, said, “What we do is make it very easy for data scientists to connect to their data, analyze and explore it in notebooks. And then they can share their work as interactive data apps that anyone else can use.” The approach taken by Hex in order to address data-sharing issues is the development of a tool specifically created to disseminate data sets across an organization’s functioning units. However, these data sets do not have to as intricately technical as the ones falling within the purview of the work of data scientists.

An interesting thing to note about Hex is that they are not merely breaking barriers in terms of data sharing practices currently being followed with their start-up and product. The CTO of Hex, Caitlin Colgrove revealed to TechCrunch that the company actually consists of only 9 employees. She went on to say, “Actually, today our engineering team is a majority of female, which is definitely the first time that that’s ever happened to me.”

In a world witnessing the increasing momentum of the demand for gender equality, Ms Colgrove takes a step towards that end by being a female founder of the company and part of the increasing 28% of U.S start-ups that were either founded or co-founded by women. Hex faces an immense potential for growth especially owing to the fact that companies like Glossier, Pave, and Imgur have already taken a piece of their action early on, thus, showing their faith in the company’s vision.

Data is the future. There is no escaping the fact that data is, by far, the most valuable commodity in today’s market. Ergo, data utilization, along quality data scientists are the need of the hour for all companies. However, data processing is a tedious ordeal, and as of now, there are no shortcuts to the blatant manual labor required for it. The tech start-up Hex wishes to introduce a more efficient alternative.

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