TEL AVIV, Israel, July 7, 2016 /PRNewswire/ --
CoolaData, the pioneer in behavioral analytics, bringing a new approach to business intelligence, today announced that it has raised a total of $5.6M from Salesforce Ventures, TEEC Angel Fund and the existing investors in CoolaData's Series A, 83North and Carmel Ventures.
The funding will be used to accelerate CoolaData's worldwide growth and extend its reach into IoT and enterprise applications.
CoolaData is a cloud-based behavioral analytics platform offering companies a deep understanding of user behavior across all channels, and providing quick answers to complex business questions. As proven by dozens of CoolaData customers, its time-series analysis of user behavior enables product, marketing and business teams to discover vital information such as user acquisition, churn prediction, retention drivers and customer life-time value optimization, making companies more successful.
CoolaData's behavioral analytics complements Salesforce Wave Analytics, which empowers any business user-from sales reps to service agents to marketing managers-to get smarter about their customers with real-time, actionable insights on any device. This is particularly relevant given the increasing importance of providing more granular and personalized analytics in real-time on big data sets.
"This new funding will fuel CoolaData's growth, and our ability to reach online businesses, providing deep understanding of user behavior," says Tomer Benmoshe, CEO of CoolaData. "Our goal is to enable the product and marketing teams of our customers to obtain instant answers on a vast amount of behavioral data."
83North, formerly Greylock IL, is a global venture capital firm with more than $550 million under management. The fund invests in exceptional European and Israeli entrepreneurs, across all stages of consumer and enterprise companies. For more information, visit http://www.83north.com.
About Salesforce Ventures
Salesforce Ventures-Salesforce's corporate investment group-invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visithttp://www.salesforce.com/ventures.
About TEEC-Angel Fund
TEEC-Angel Fund stands at the forefront of connecting the U.S. and China. TEEC is a Silicon Valley-based super angel fund led by a team of veteran entrepreneurs and executives with deep investment experience. Within the TEEC ecosystem of a hundred portfolio CEOs, Tsinghua Entrepreneur & Executive Club (TEEC) networks, elite accelerators, and top-notch universities, TEEC-Angel Fund supports tomorrow's star companies. For more information, visit http://www.teec-angel.com .