HIG, a private equity investment firm, led a $33m funding round in Mode Analytics, a collaborative analytics platform developer, with participation from Valor Equity Partners, Foundation Capital, REV Venture Partners, and Switch Ventures. “Traditional business intelligence can show what’s happening, but not why. Even at companies with huge investments in self-serve BI, people constantly ask the data team follow-up questions. Making the data team more effective, and making the collaboration between the two groups work flawlessly, is the unmet need that Mode has filled. In doing so, we have laid the foundation for the future corporate knowledge base,” Derek Steer, Mode Analytics Co-founder and CEO.