Enterprises collect information – and prodigious quantities of it. We know that this mass of information is beneficial and can make enterprises much more efficient and profitable. The question, however, is how to obtain the relevant information in a convenient and accessible form.
Israeli startup CoolaData, which is developing technology for processing information and providing insights for users in real time, announced a $5.6 million Series B financing round earlier this month, with one of the investors being American cloud computing and BI giant Salesforce.
Analysis in real time of users’ behavioral patterns
The technology developed by CoolaData enables various enterprises to obtain comprehensive information and insights about their customers’ and users’ behavioral patterns on their various content channels. To attain these insights, CoolaData’s platform monitors hundreds of millions of different actions in real time collected from the company’s services and servers. The platform then analyzes these actions to obtain information about the users’ behavioral patterns.
In the final stage, CoolaData’s system generates a new database with clear and accessible information so that it can be displayed in real time. The enterprises can then benefit from precise insights based on big data, while at the same time altering and improving their systems. The company’s data are also available through an API so that the customers are not restricted to using CoolaData’s platform; they can use the data on their regular services and software, or develop apps based on this information.
CEO Tomer Ben Moshe, founder of startup Red Loop Media and later a VP at Amdocs, and President Guy Greenberg, former senior VP BI at Ness Technologies, founded CoolaData in 2012. The company completed a $7.5 million Series A financing round three years ago, so the current round brings the total raised to $13.1 million. New investors joined the current round, including Salesforce Ventures, Salesforce’s investment arm, which has already invested in about 150 startups since its launch. Another new investor is Chinese-American TEEC Angel Fund, and previous investors North 83 and Carmel Ventures also took part in the current round.
Commenting on the financing round, Ben Moshe said, “This new funding will fuel CoolaData’s growth, and our ability to reach online businesses, providing a deep understanding of user behavior. Our goal is to enable the product and marketing teams of our customers to obtain instant answers on a vast amount of behavioral data.”