BUFFALO, N.Y., June 25, 2013 (GLOBE NEWSWIRE) -- Z80 Labs, Buffalo's first Internet-focused technology incubator, supported by Softbank Capital, The Buffalo News, Campus Labs, PC Business Solutions and Synacor, today announced that Decision Pace, a business intelligence (BI) web service that cuts months of work down to hours by rapidly modeling, creating and distributing highly evolved, actionable and best practice portal content, has raised $1 million in funding by Richmond Capital Partners, Z80 Labs and various angel investors.
The funding will be used by Decision Pace to innovate and break through into new growth markets as the company further develops its BI data visualization products, services and technologies. Decision Pace automates the on-demand transformation of raw data from any source into real-time, relevant visualizations, which is quickly published to websites, devices or email. With a fast production time, Decision Pace can save businesses considerable cost in IT software and resources, while producing superior results.
"Decision Pace has a unique advantage in two very large software markets: business intelligence and development tools," said Jay Moeller, co-founder, Decision Pace. " According to IDC, the SaaS segment of BI market is growing more than 30 percent per year compared to 10 percent for BI in general. Decision Pace provides a particularly desirable model by allowing companies to keep their current data on their secure servers, avoiding the need to process, load and pay for data to be redundantly stored in the cloud. Also, Decision Pace's SaaS model includes a marketplace so clients can purchase pre-built applications supplied by Decision Pace, partners or even the clients themselves. We're thrilled to have the vital backing of Richmond Capital Partners, Z80 Labs and others."Having earned validation in the legal industry, Decision Pace at its core is designed to handle the needs of any industry. In addition to targeting Value Added Resellers (VARs) and developers, the company is situated to quickly integrate with and sell products to a wider customer base, resulting in a robust pipeline. Industries include accounting, health insurance, manufacturing, logistics and Internet software.