December 18, 2022
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Data mining is a trend most large companies try to jump on, while startups are driving innovation and new product development around the globe - from Palo Alto to Hong Kong.
The global market for data mining tools is projected to grow at a compound annual rate of 13.2% and reached a size of USD 764.3 million in 2021.
We have compiled a list of 10 fast-growing data mining startups that have received significant funding from top venture capital firms in 2022.
These companies are poised for growth in the data mining industry and are worth keeping an eye on.
Headquarters: Sha Tin, New Territories, Hong Kong
Founders: Alex Chu, Eugene Ho, Patrick Tu
Year founded: 2018
Latest funding: $1,800,000 (Seed)
Total funding: $1,800,000
Investors: EC Healthcare, Particle Accelerator Limited (ParticleX), Enterprise Singapore, Grosvenor Group, ROBO Global
What they do: Dayta is a software company which develops retail analytics SaaS solutions for brick-and-mortar retailers through cloud computing, machine learning and big data. Their product, Cyclops, is a cloud-based AI solution powered by Machine Learning, that can leverage on any RTSP-connected camera to acquire, evaluate and interpret real-time data.
Headquarters: San Francisco, California, United States
Founders: Michael Malis, Steven Fitzsimmons
Year founded: 2019
Latest funding: $9,500,000 (Series A)
Total funding: $14,650,000
Investors: Y Combinator, Pioneer Fund, Intel Capital, BT Growth Capital
What they do: Freshpaint is a data platform that develops software that facilitates marketing by collecting customer data. It connects the customer data from the site or app to marketing and analytics tools. It also automates tedious work so engineering can focus on the product. Freshpaint is capable of integrating marketing and analytics tools with one click. The platform helps product, data, and growth teams set up the customer behavioral data they need to build a better product, drive engagement, and improve retention.
Headquarters: Salt Lake City, Utah, United States
Founders: Andrew Kenney, Dave Smiley, Josh Wilson
Year founded: 2020
Latest funding: $8,500,000 (Series A)
Total funding: $13,500,000
Investors: GTMFund, Album VC, Peterson Ventures, University Growth Fund, RevRoad
What they do: Particl is building the competitor insights platform designed for e-commerce.
Headquarters: New York, New York, United States
Founders: Amir Cohen, David Schapiro, Elad Tsur, Elad Tsur
Year founded: 2016
Latest funding: $23,000,000 (Venture - Series Unknown)
Total funding: $71,000,000
Investors: Team8, Arbor Ventures, Eight Roads Ventures, Nationwide Ventures, Nationwide
What they do: Planck is a commercial insurance data platform, built to enable insurers to instantly and accurately underwrite any business. Its technology platform aggregates and mines massive datasets, using artificial intelligence to automatically generate and deliver key insights, customized to the commercial underwriting process. Its platform brings automation and intelligence to the underwriting process.
Headquarters: Philadelphia, Pennsylvania, United States
Founders: Charles Paumelle, Ronald Rock, Tim Panagos
Year founded: 2013
Latest funding: $18,089,901 (Venture - Series Unknown)
Total funding: $36,697,978
Investors: Semtech, Kerlink, Motley Fool Ventures, Endeavour Ventures, ic@3401
What they do: Microshare provides turnkey Smart Facilities data solutions at scale that bring safety, wellness, cost savings, and sustainability to clients' vital assets. Their Sensing-as-a-Service model and global reseller network helped our clients get back to business quickly, safely, and cost-efficiently in 2020, all while shedding new light on the true performance and utility of their real estate holdings to prepare them for success in the post-pandemic future. Microshare is a member of the LoRa Alliance and a key provider of LoRaWAN solutions for Microsoft Azure.
Headquarters: Amsterdam, Noord-Holland, The Netherlands
Founders: David Arnoux, Kees van Nunen, Peter van Sabben, Pia Ella Elmegård, Quentin Lacointa
Year founded: 2015
Latest funding: $2,843,487 (Series A)
Total funding: $12,120,588
Investors: Rinkelberg Capital
What they do: Growth Tribe is a digital learning partner for both individuals & organisations, specialising in Growth, Digital Marketing, Data, UX Design & Digital Leadership. They help learners and partners acquire the most in-demand digital capabilities through actionable, hands-on and enjoyable courses & learning programs.
Headquarters: Los Angeles, California, United States
Founders: Christina Hawatmeh, Manoj Pooleery, Nour Chamoun
Year founded: 2017
Latest funding: $50,000,000 (Venture - Series Unknown)
Total funding: $50,050,000
Investors: OurCrowd, Gaingels, Lightspeed Venture Partners, Mizrahi Tefahot Bank, Arch Grants
What they do: Scopio is an Online Community connecting photographers and visual artists to each other and to potential customers building the world's largest source of visual talent. Talented diverse artists from 190 countries have built profiles on Scopio, where they sell their images, tell their stories, and get hired for their talent.
Headquarters: Riyadh, Ar Riyad, Saudi Arabia
Founders: Ahmed Bukhamseen, Tareq Abdeljalil
Year founded: 2015
Latest funding: $8,000,000 (Series A)
Total funding: $19,200,000
Investors: VentureSouq, Angel Investor, SEEDRA Ventures, Raed Ventures, Steven Tannock
What they do: As data became excessive and abundant, Quant was established as a Saudi consultancy company to provide services such as Data Analytics, Business Intelligence, Artificial intelligence, Machine Learning, Data Quality Management, and Analytics Training, Predictive Analytics, as well as AI & BI SaaS products.
Headquarters: New York, New York, United States
Founders: Alex Beltrani, Alex Pavone, Jeremy Zaborowski
Year founded: 2015
Latest funding: $5,500,000 (Series A)
Total funding: $10,750,875
Investors: The Fund, Contour Venture Partners, New York Venture Partners, Alpine Meridian, Tom Colicchio
What they do: Tattle's Customer Experience Improvement (CXI) platform collects actionable data at every touch point of the customer journey. It helps users uncover and act on the opportunities that matter the most for increasing guest satisfaction, operational performance, and revenue.
Headquarters: Berlin, Berlin, Germany
Founders: Fabian Dudek, Jan Hoekman
Year founded: 2019
Latest funding: $1,979,400 (Seed)
Total funding: $2,034,795
Investors: High-Tech Grunderfonds, APX, Hauer Ventures
What they do: GlassDollar makes the corporate startup sourcing process digital and scalable - their data engine produces insights from 20+ million startups globally.
This concludes our list of 10 data mining startups to watch out for in 2023. Their funding in 2022 will set them up for success to drive the industry forward in the coming years.
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