Humans produce 2.5 quintillion bytes of data each day. By 2025, this figure is expected to increase to 463 exabytes. Business applications are responsible for much of this data and the conversation has shifted from enterprise data collection to how best to efficiently process this vast pool of data. Virtualitics is a data analytics and 3D visualization platform that helps businesses make sense of this data and offers easy-to-digest visual and actionable insights. The Pasadena-based startup has concentrated its efforts on serving the defense industry with its technology but with this funding, Virtualitics plans to expand its commercial offering to servicing the healthcare, finance, industrial IoT, and motorsports markets as a part of its plans to develop a broader customer base. LA TechWatch caught up with CEO and Cofounder Michael Amori to learn more about the core technology that fuses analytics and visualization, the company’s future plans, and latest round of funding led by North Sound Ventures.
Data and Analytics
Customer lifetime value (CLV) is the single most important metric for understanding your customers and their behavior. Without a solid understanding of it, it becomes nearly impossible to understand your marketing efforts and predict profitability. Retina is leveraging AI and data analytics to understand CLV before a customer makes a purchase for high-growth consumer companies. According to its data, the customer intelligence platform is able to lift CLV by 44%, generating 8x more return on ad spend while improving marketing efficiency by 30%. Presently, the platform is focused on companies that are doing ~$10M in revenue but plans to roll out its offering to mid-sized businesses is in the works. The level of specialized data that Retina is able to provide has traditionally been reserved for large companies with entire in-house data teams. LA TechWatch caught up with Cofounder and CEO Emad Hasan to learn more about the company’s mission to democratize the access to data that drives high-value sales, future plans, the LA Tech ecosystem, and much, much more.
I am sure many of you have used Google Trends in the past. But, for those of you that are not aware of this terrific tool, now is the time to learn how valuable it can be for your business.
50 years of combined security experience between the cofounders and they still couldn’t find a security company they admired. Existing data privacy solutions weren’t built for today’s cloud-based infrastructure and the volume, velocity, and variety of data that enterprises are using. Recognizing this disconnect, Dave Cole and Mark Curphey built Open Raven, a modern data security platform that empowers security teams to understand and track where their company’s data is in the cloud and prevent any security incidents before a breach. Cole shares more about Open Raven’s future plans and recent funding round led by Kleiner Perkins.
For too long online users have been too willing to hand over their personal data in exchange for using mobile services (e.g., Apple, Facebook, Amazon, Google, etc.). As these companies continue to expand their footprints, untethered by regulators, into every facet of their customer’s lives there is a growing revolt.
Data in all formats will soon be the largest source of new opportunities for startups or death.