Annik Founder Launches QoreNext with Angel Investment

In Singapore, Annik founder Rahul Sahgal is launching a cloud-based Data-as-a-Service (DaaS) platform called QoreNext, with an undisclosed amount of angel funding from long-time industry execs Kristin Luck and Tom Lynch, and investor Adil Wali.

Sahgal (pictured) set up enterprise data and analytics solutions firm Annik in 2000, and sixteen years later, he sold it to US-based customer engagement company LiquidHub (itself since acquired by CapGemini). His new business QoreNext, which launches with plans to expand to the US and India, has already developed its Qore platform, through which to solve data problems in the areas of artificial intelligence and business intelligence. Qore curates, manages and sells - on a subscription basis - foundational data from various sources across multiple industries.

The business kicks off with investments from the three - including Luck, who currently runs her own management consultancy ScaleHouse; is a licensed investment banker with Oberon Securities; and the founder of not-for-profit organization Women In Research (WIRe). Earlier, she founded MR software and tech provider Forefront Consulting Group (acquired by online survey technologist Decipher); having previously co-founded OTX (Online Testing Exchange - later sold to Ipsos); and she helped launch ACNielsen's first online research practice.

Lynch joined retail data firm The NPD Group in 1995, and serves as Chief Financial Officer, responsible for M&A and partnerships. His management experience includes more than 25 years in finance, operations, and transactions across the US, Europe, and Asia, and he previously led Media Metrix (NPD's Internet tracking spin-off) through three acquisitions, as well as initial and secondary public offerings. Third investor is Wali, the creator of cryptocurrency Merit, co-founder of 'social commerce' retailer ModCloth, and in addition to holding a senior leadership role at a technology company, Waku is an investor in multiple AI-driven quantitative hedge funds.

Commenting on the news, Sahgal told DRNO: 'We are excited to have three very seasoned professionals as angel investors. Each brings a unique and complementary experience set in sales and marketing, technology and finance and operations. We believe they will substantially support the success of our game-changing Qore platform as we aim to become the Netflix of data'.

Web site: www.qorenext.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.