San Juan Capistrano-based data-analysis software maker NarrativeWave Inc. has received $1.35 million in new funding, bringing its cumulative amount raised to $2 million.
NarrativeWave provides internet-based data analysis software to help companies manage industrial equipment such as turbines for the energy or aviation industry. It’s a portfolio company of Frost Data Capital, also in San Juan Capistrano.
The company is raising an additional $1 million to $1.7 million to continue product development, Frost Data Capital said.
Some of the new funding will go toward a $200,000 annual salary for Chief Executive Benjamin Decio and each investor must invest at least $50,000, according to a regulatory filing.
NarrativeWave was founded in 2014.