Big Data Firm InsightsOne Gets $4.3m
In the US, cloud-based big data analytics firm InsightsOne has closed a $4.3m Series A round of financing, allowing it to grow its executive team and expand its investment in sales, marketing and product development.
The round was led by Norwest Venture Partners (NVP) and its Managing partner Promod Haque has joined InsightsOne's Board of Directors. InsightsOne's founders left Yahoo! having built its pioneering consumer data and analytics platform, and other investors in this round include former Yahoo! CTO Zod Nazem.
InsightsOne offers real-time precision targeting and marketing insights to consumer marketers, using Hadoop and NoSQL -based micro-segmentation technology to extract data from social media and mobile data, unstructured and structured and power marketing by email, mobile, in-app, social media and web communications. Clients use the services on a subscription basis therevy avoiding up-front investment.
Founder and CEO Waqar Hasan comments: 'This round of funding validates our vision to enable mid to large B2C companies to leverage the power of big data at a low cost and exploit the power of cloud-based predictive analytics to increase profits.'
NVP's Haque says InsightsOne's years of work building a solution based on 'thorough customer feedback and testing' sets it apart from the build-and-hope vendors in the sector, and has achieved rare success with Fortune 500 clients considering the current early stage of its development.
Headquartered in Palo Alto, California, NVP has subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel and Hong Kong; while InsightsOne is based in Santa Clara, CA and is online at www.insightsone.com .