Anodot, the AI-powered analytics company, has announced a Series B round, bringing its B funding total to USD 23 million, the company said.
The additional USD 15 million investment was led by Redline Capital Management together with existing investors Aleph Venture Capital and Disruptive Technologies Venture Capital. Over the past year, the company more than tripled its revenues, with customers such as Foursquare, Lyft, Microsoft, Upwork and Waze (Google), and is gearing up for further expansion in 2018.
Headline-making glitches that interrupted sales for major retailers on Black Friday and frustrated thousands of shoppers illustrate the severe damage to revenue and reputation that these often hidden issues cause. Anodot´s patented solution enables businesses to track and correlate massive volumes of business and technical data in real time to identify these business incidents.
Anodot illuminates business blind spots with AI analytics, so companies will never miss another revenue leak or brand-damaging incident. Its automated machine learning algorithms continuously analyze all business data, detect the business incidents that matter, and identify why they are happening by correlating them across multiple data sources. Anodot customers in fintech, ad-tech, web and mobile apps, and other data-heavy industries use Anodot to drive real business benefits like significant cost savings, increased revenue and upturn in customer satisfaction. Founded in 2014, Anodot is headquartered in Ra´anana, Israel, and has offices in Silicon Valley. Learn more at www.anodot.com.
Redline Capital is a global Venture Capital and Growth Equity fund investing in fast-growing companies with differentiated technologies across North America, Europe and Israel. Redline is backing strong management teams, and lends its support to enable their vision and strategy through all stages of their development. For more information about Redline Capital, visit www.redline-capital.com.