Will accelerate the growth of CoolaData’s fully actionable, unified behavioral analytics solutions
Tel Aviv, October 22nd, 2013
CoolaData, a provider of Big Data Analytics as a Service, announced today the closing of $7.5 million in Series A funding from Greylock IL and Carmel Ventures. CoolaData improves overall customer lifecycle management by providing fully actionable, unified behavioral analytics solutions for online companies. The company’s groundbreaking technology offers the ease and fast onboarding of an out-of-the box solution, combined with the scale, analytic power, flexibility and openness traditionally achieved by self-development.
CoolaData’s founders, Tomer Ben Moshe and Guy Greenberg, are BI/Big Data veterans and serial entrepreneurs. “CoolaData offers the ability to answer complex business questions which cannot be addressed by traditional BI tools,” said the company’s CEO, Tomer Ben Moshe. “Our unique, open interface allows customers to easily turn insights into actions by enabling them to embed CoolaData analytics into their own systems.”
The CoolaData service is in beta with several eCommerce, gaming and mobile customers. These customers benefit from a unique combination of scalability, extensibility and sophisticated analytical power, without the burden of having to invest the resources and know-how required to build a Big Data solution. The service will be generally available in the first quarter of 2014.
Yoram Snir, Partner at Greylock IL and Avi Zeevi, General Partner and Co-Founder of Carmel Ventures, joined the company’s board of directors.
“We have seen the need for scalable, deep and open analytics capabilities provided as a service across our portfolio,” said Yoram Snir of Greylock IL. “CoolaData offers a cost effective service that can replace expensive and lengthy development of Big Data capabilities for most, if not all the companies we came across”.
Avi Zeevi of Carmel Ventures added: “We’ve watched Tomer, Guy and their team at CoolaData transform the company from an innovative startup to one that delivers an advanced unified behavioral service for mobile and web analytics. It’s not about pageviews anymore — what business users value now is actionable analysis of customer behaviors.”
About Greylock IL
Greylock IL is an affiliate fund of Greylock Partners with offices in Israel and London. Some of the fund’s investments include: Actifio, Aeroscout, ScaleIO, iZettle, JustEat, Payoneer, Wanova and Wonga. For more information visit: www.greylockil.com.
About Carmel Ventures
Carmel is a member of the Viola Group, Israel’s premier technology-focused PE group with over $2B under management. As Israel’s top tier VC firm, Carmel invests in Israeli or Israeli-related early stage companies and builds global category leaders across a number of key market segments, including: software, new enterprise infrastructure, Big Data, digital media, consumer applications and semiconductors. For more information, please visit: www.carmelventures.com.