$12M seed round funding will be used to spur digital transformation, unlock data and expand to new industries
TEL AVIV, Israel – March 16, 2021 – Noogata, the leader in radically simple, no-code artificial intelligence (AI) data analytics for enterprises, today announced that it has secured a $12 million seed funding led by Team8 with participation from Skylake Capital. Investment proceeds will power product development and organizational expansion to fast-track and scale Noogata’s innovative enterprise AI offering; support the company’s expansion into new industries; and serve existing customers, including Colgate and PepsiCo.
Noogata is an enterprise platform for collecting, enriching and modeling data insights, predictions and recommendations. It provides actionable data analytics across multiple departments, ranging from sales and operations to finance and marketing. This removes the need for internal development overheads or the use of limited out-of-the-box solutions. The platform easily and rapidly integrates with enterprise data systems.
Noogata democratizes the development of enterprise applications by empowering non-developers to build the tools they need. At the core of the Noogata solution are modular, pre-set “AI blocks,” which are engineered to target mission-critical business needs such as managing eCommerce channels and supply chains and enhancing marketing ROI. Noogata utilizes no-code AI-powered frameworks to unlock valuable data insights that companies can integrate into their reports and dashboards to improve decision-making.
“We believe data teams are at the epicenter of digital transformation and that to drive impact, they need to be able to unlock the value of data. They need access to relevant, continuous and explainable insights and predictions that are reliable and up-to-date,” said Noogata Co-Founder and CEO Assaf Egozi. “Noogata unlocks the value of data by providing contextual, business-focused blocks that integrate seamlessly into enterprise data environments to generate actionable insights, predictions and recommendations. This empowers users to go far beyond traditional business intelligence by leveraging AI in their self-serve analytics as well as in their data solutions.”
Yuval Shachar, Managing Partner at Team8, said: “Noogata is perfectly positioned to address the significant market need for a best-in-class, no-code data analytics platform to drive decision-making. The innovative platform replaces the need for internal build, which is complex and costly, or the use of out-of-the-box vendor solutions which are limited. The company’s ability to unlock the value of data through AI is a game-changer. Add to that a stellar founding team, and there is no doubt in my mind that Noogata will be enormously successful.”
Endre Sagi, General Partner at Skylake Capital, added: “In most enterprises, data scientists, data engineers and software developers are among the scarcest resources. Noogata’s no-code AI platform allows customers to unleash the power of AI and improve business decisions in a short period of time without committing significant internal technical resources. This makes Noogata’s value proposition extremely compelling.”
Putting the Noogata Solution Into Practice
As part of its investment in AI to revolutionize its digital commerce business, Colgate-Palmolive Company uses the Noogata platform to support key sales and marketing functions. According to Kitu Kumar, Ph.D., Associate Director of eCommerce Analytics at Colgate, “We always invest in understanding our consumers so that we can stay close to them. Noogata is giving us a large-scale solution that lets our business units leverage AI across digital commerce channels and touchpoints. As a result, we are improving our sales and marketing efforts dynamically to capitalize on shifting consumer interests. This creates a true competitive advantage for us.”
Global food and beverage company PepsiCo, Inc. is currently leveraging Noogata’s technology across certain farming sites in Europe to help optimize the yield of agricultural raw materials. “PepsiCo is always looking for ways to leverage breakthrough technology that can help advance our sustainability goals,” said David Wilkinson, Senior Director, PepsiCo Global Procurement. “By applying AI to the crop data captured in partnership with farmers, we can gather important insights to further improve decision-making across our agricultural supply chain. The Noogata AI platform is helping us take steps to further optimize crop yield, which helps support farmers’ productivity, profitability and resiliency.”
Noogata is the leader in radically simple, no-code artificial intelligence (AI) data analytics for the enterprise. The company provides a modular, expandable, single-platform and analytics solution that is ready for immediate use, thanks to pre-built, domain-focused blocks that “speak the language of business” while targeting unique, mission-critical use cases. Noogata delivers the benefits of best-in-class AI for maximum business impact without the complexity and costs of having to develop it or maintain the AI solutions. Founded in 2019 and headquartered in Tel Aviv, privately-held Noogata is backed by Team8 and Skylake Capital. To learn more, visit https://www.noogata.com/.
Team8 is a venture group that builds and backs technology companies at the intersection of artificial intelligence, cybersecurity, data, fintech, enterprise software, and infrastructure. We rethink venture to provide entrepreneurs with an unfair advantage, accelerating success in an increasingly competitive landscape. Our deep understanding of the challenges faced by our industry and extensive network of global leaders uniquely positions us as the venture partner of choice. Team8’s leadership team includes unicorn founders, bank and fintech CEOs, and former leaders of Unit 8200, Israel’s elite military technology and intelligence agency. For further information, please visit www.team8.vc.
About Skylake Capital
Skylake Capital is a venture capital fund exclusively focused on investing in early-stage enterprise IT infrastructure startups across Europe and Israel. The fund’s key investment areas include data & cloud infrastructure, machine learning & artificial intelligence, development tools and cybersecurity. Skylake Capital partners with entrepreneurs to increase their chance of success by sharing the team’s expertise in commercializing complex and core technology and by providing access to a network of potential customers, strategic partners, and other ecosystem participants. For further information, please visit https://www.skylakecapital.com.