• Venture Capital
  • Experfy Editor
  • JUN 05, 2014

Latest Big Data Funding Rounds (June 5, 2014): OLSET, Learn Sprout, Sales Predict, OpenGov

OLSET acquires $1.1 million in seed funds

OLSET, a big data travel tech firm, announced that it has received $1.1 million in seed funding. The investors participating in this funding round are Montage Ventures, Digital Garage, and 500 Start-ups.

Founded by ex-Travelocity developers, and a team from Google and other leading tech companies, OLSET was a pioneer in the personalized hotel bookings industry. The OLSET team spent the past 18 months fine-tuning their algorithms and categorizing the data, to deliver a stronger patented technology. The company plans to use the seed funds in launching their enhanced product, building partnerships, and building a new website.

OLSET’s built-in algorithms match travelers’ preferences with hotels based on 40-million traveler sentiments. To provide custom srvices to travel agents and productivity app providers, OLSET creates a profile for each traveler by scanning a traveler’s past  booking patterns and social media profiles.

Perhaps the strongest feature in OLSET’s arsenal is Omnibooking, which enables travelers to book hotels via any channel they want. Exploiting natural language processing, OLSET is initially offering power- booking via calendar invites and emails,  and will later add more booking channels such as Twitter, Chat, and  Text messaging in the near future. Through this special service, a traveler can get personalized hotel recommendations including hotel location and dates in the email inbox.

Currently OLSET is exploring partnership possibilities with travel businesses and productivity apps— interested in offering a personalized hotel-booking experience to users. OLSET recently added some senior engineers in their development team, which includes former developers from Google and other tech giants.  

Learn Sprout Secures $4.2 million in Series A funds

LearnSprout, an analytics Dashboard provider to the K-12 market,  secured $4.2 million in Series A funding from Formation 8, Samsung Ventures, and former Blackboard president, Justin Tan. The company proposes to use its capital funding in improving LearnSprout with additional features and a better user experience.

Since LearnSprout Dashboard was launched about nine months ago, the company has analyzed data for more than 2,000 schools in 47 states and 9 countries! In the K-12 market sector, this company is one of the fastest growing businesses.  The company attributes its quick success to its powerful analytics capabilities to fight chronic absenteeism in schools. 

With integration to Infinite Campus, the company opened its doors to more than 500 Infinite Campus schools who have already registered for LearnSprout, expanding its reach to approximately 20-million students. Infinite Campus users will easily approve of the product’s user-friendly Dashboard with a 5-minute setup and easy-to-understand reports.

SalesPredict Receives $4.1 Million for its Predictive Analytics Solution

SalesPredict, helping B2B companies increase revenues with big data and predictive analytics, just announced it has received $4.1 million in Series A funding from Yandex, KGC Capital, and other existing investors. With this capital funding round, the company brings the total capital fund acquisition to $5.3 million. SalesPredict will utilize the newly acquired funds to expand its global sales and marketing presence.

“SalesPredict provides an innovative technology approach that helps B2B companies overcome one of their top barriers to growth: identifying the best sales prospects and moving them through the lead-to-revenue cycle quickly,” said Chris Capps, president and CEO of KGC Capital.

SalesPredict sources data from a wide variety of channels such as prospect and customer data from a company’s CRM or automated marketing tools, proprietary data sources, social media, and the open web, to assist B2B companies uncover hidden prospects, which are most likely to convert into customers.  Using proprietary algorithms, the company extracts rare insights that can strengthens sales, marketing, and customer success teams to increase sales and maximize revenue at every phase of the business life-cycle.

Says SalesPredict co-founder and CEO Yaron Zakai-Or,  “SalesPredict is here to prove that you don’t need to hire an expensive team of data science consultants in order to gain actionable insights from your CRM and marketing automation data. Our customers love that they can install SalesPredict from the Salesforce.com AppExchange in about 10 minutes and it provides tangible business value within 24 hours.”

OpenGov Raises $15 Million to Maintain Transparency in Government Transactions

In a Series B funding round, OpenGov raised nearly $15 million from the premier Silicon-Valley venture-capital fund Andreessen Horowitz.  By working closely with investors, advisors, and government partners, OpenGov will continue to develop new capabilities for a already-powerful financial monitoring and BI product for the government enterprise.

OpenGov sees itself as a partner for governments. The US federal government spends $3.5 trillion; while the state governments spend approximately $3.7 trillion. The American people have a right to know where the money goes. In a democratic setup, citizens are expected to work with their governments in a “relationships of trust and understanding.”

Senior government executives have tremendous accountability to the common citizens, they need access to financial data, analytics, and communication tools to ensure ethical spending patterns. This is where premium technology comes into play for the transparent management of departments. OpenGov promises smooth workflows for insiders and clarity for outsiders. The Annual Reporting capability enables executives and citizens to trace the flow of revenues and expenses throughout highly complicated, expense life-cycles in government departments.

Now, almost 100 cities, counties, state agencies, school districts, local governments departments are leveraging the platform to provide insights that impact future development.

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