• by Ben Frederick  @mp_benfred, July 29, 2016

Reltio, a data-management platform as a service (PaaS) company, announced a $22 million series B funding round this week. The round was oversubscribed and led by New Enterprise Associates, along with existing investors Crosslink Capital and .406 Ventures.

This round brings the total raised by Reltio to $32 million to date. As per a statement, the money will be used to expand its global presence and bring in new talent.

The company was founded in 2011 to provide PaaS services to enterprises. In 2016, the company has added a major car retailer, a large fast food franchiser, a specialist insurer and a global media investment group to its list of clients.

Cheguan Puttagunta, a partner at NEA, will join the board of directors at Reltio as a part of the deal.

“Reltio has solved an age-old conundrum by bringing IT and business teams together, on a multifaceted, agile platform designed for CIOs,” stated Puttagunta.

Reltio’s products allow enterprises to create and deploy data-driven applications and solutions on its cloud platform. It gives third-party data providers a new channel in which to sell their data and tech providers a channel for their solutions in the cloud.

“Our modern data management Platform as a Service has been validated by customers and partners as they execute on a wide range of initiatives, including digital transformation, M&A, commercial excellence and compliance,” stated Manish Sood, CEO of Reltio.