Anodot announced $8 million in funding led by Aleph Venture Capital with participation by Disruptive Technologies L.P., bringing Anodot’s total funding to $12.5 million.
The funds will be used to expand the company’s global sales and operations and meet demand for its service.
Anodot was co-founded by David Drai, the former CTO of GetTaxi and co-founder of Contendo (acquired by Akamai), Shay Lang, former VP Engineering at Trustwave, and Dr. Ira Cohen, former Chief Data Scientist at HP.
Anodot brings machine learning and real-time streaming data together to identify, report, and visualize business incidents as they occur, enabling its customers – often Business Intelligence analysts serving all aspects of a company’s operations – to quickly and effectively manage crises and uncover business opportunities. Instead of the usual days or weeks it currently takes companies to detect and understand data anomalies, Anodot’s SaaS solution is capable of identifying and notifying customers about issues in mere minutes.
“Today’s digital businesses operate in dynamic environments, but Business Intelligence analysts are hampered by their existing static tools, so they are the last to know when something happens that can impact their business. As a former CTO, I’ve seen how the inability to identify business incidents and delayed reactions can turn manageable issues into major crises, from the extended time it takes to recognize an issue to the even longer period necessary to understand the cause,” said David Drai, CEO and co-founder of Anodot. “Our patented algorithms automatically learn the normal behavior of any time series data – MixPanel, Google Analytics, Graphite, and so on – and then rapidly identify anomalies which typically indicate business incidents. Seasonality is a huge challenge for the industry, and the subtle changes that wouldn’t trigger static thresholds are caught by Anodot.”
“The promise of Big Data and Business Intelligence is vast, but so few companies have unlocked its potential. Anodot is channeling the most advanced machine learning algorithms to make Business Intelligence real-time and its potential impact is enormous,” said Eden Shochat, Founder & Partner at Aleph. “Aleph is focused on finding companies who rethink stagnant industries that are ripe for change, and we’re thrilled to be joining Anodot on their journey.”
“From the beginning, we believed in Anodot’s vision of revolutionizing the BI market, and Anodot continues to move the needle for businesses looking for the best analytic capabilities,” said Tal Barnoach, General Partner at Disruptive “Disruptive is committed to finding disruptive ideas, technologies and products that change existing habits and the way users interact with products, and Anodot is a great fit for this mission.”
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