By Vincent Letteri Nov 07, 2017
Data integration is complex and, at times, can be difficult for companies to achieve successfully. It's also incredibly important, and only getting more important every day as companies generate huge amounts of data across an increasing array of apps and software located in the cloud and in their own data centers.
Scores of companies have created a multi-billion dollar market out of using software (of course!) to stitch apps and other programs together so that they can function as one. This software helps integrate the data, manage it, deploy it, and makes it overall simpler to work with by bringing it together into a single platform. The sum here is greater than the parts.
When we first started looking at this space, officially Integration Platform as a Service (IPaaS), we knew it was crowded and that we'd only consider investing in it if we found a truly special company to invest in. Jitterbit is that company -- they've taken a very complex, technical system to navigate and created a platform that non-technical employees can easily work with, resulting in increased productivity, boosted revenue, and improved security for a company. Instead of selling their product to technical developers like many of their competitors, Jitterbit made a product that teams without advanced data skills, such as sales or marketing departments, could understand the value of and easily implement.
Jitterbit's technology can even save lives! Well, maybe not literally, but ultimately it can make a very real impact outside of the software as a result of better coordination within it. An example of this can be seen in one of Jitterbit's largest customers: ASCO, the American Society of Clinical Oncology. Experts believe that one of the main roadblocks to curing cancer has been the difficulty clinics, doctors, and researchers have in sharing information. By utilizing Jitterbit's data integration technology, ASCO has been able to connect over 1,000 centers, giving these organizations the ability to share their medical findings with each other. These clinics now have access to a huge amount of useful information that can help them better serve their patients and make important discoveries they wouldn't necessarily have been able to do otherwise.
Since we made our first investment in Jitterbit in January 2016, we've been able to leverage our network and expertise at KKR to help guide Jitterbit's thinking around its pricing, sales teams, and product strategy. In the nearly two years since then, Jitterbit has looked beyond its original focus in traditional data integration as the industry has evolved. The majority of data is now created by machines talking to machines, with human input becoming less important. This evolution has increased the criticality of APIs to enable machine-to-machine communication, and Jitterbit's own API integration platform has been embraced by analysts and clients alike, positioning them well going forward.
For all these reasons and more, we are thrilled to continue our relationship with Jitterbit and invest further in the company to help them build out their marketing and sales functions, as well expand their international presence. Thank you, Jitterbit, for once again allowing us to play a part in your future success!
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