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Big data is quickly growing into the mainstream and drawing more interest from investors and industry players. Singapore-based Latize is reaping some of the fruit of that interest with a “growth funding” round worth US$1.5 million.

The funding comes from the Tembusu ICT Fund 1, Singaporean private equity firm Tembusu Partners’ early-stage software company-oriented fund. The round is joined by existing investors ACP Venture Capital and Spring Seeds Capital.

Latize says that IDA accreditation has helped create new opportunities for its business.

Latize develops and distributes Ulysses, a software suite that can connect and manage internal and open data sources, capture and analyze data, and create insights for the firm’s clients. The software is meant to help businesses make better decisions in areas like investigation and compliance, customer relationship management, and data monetization.

The funding will help Latize scale its services to more countries and enhance its product. “We will be releasing a host of exciting new features in the coming months to increase our product’s capabilities to discover and extract meaningful insights,” says CEO Vikram Mengi.

Latize is part of the Infocomm Development Authority’s Accreditation@IDA scheme, a program that aims to certify software for use in large businesses and organizations. While not everyone thinks the program is worthwhile, Latize says that IDA accreditation has helped create new opportunities for its business, including opening an office in Sydney.

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