Crosslink Capital, Correlation Ventures and angel investors have put $1 million into GraphDrive, maker of an API for social data. Angel investors include Pejman Nozad, Ullas Naik, and Mohsen Moazami. GraphDrive was formed in 2011.
GraphDive, the first API to fulfill the personalization promise of social data, today announced that it has raised over $1.0 million from Crosslink Capital, Correlation Ventures and top angel investors, including Pejman Nozad (DropBox, Path), Ullas Naik (former VC at Globespan), and Mohsen Moazami. Its flagship product, the Social API, delivers actionable insights to businesses by analyzing the social media activity of their online users through tools like Facebook Connect to better personalize their offerings and boost engagement.
Founded in 2011, GraphDive has spent the past two years developing a disruptive technology platform to analyze and draw inferences from publicly shared social media activity across social networks such as Facebook, Google+ and Twitter.
Starting today, the platform will be open on an invite-only basis. With GraphDive, industry verticals such as e-commerce, media and travel will gain access to ranked users interests, inferred demographic data (age, education and marital status) as well as personalized user recommendations.
GraphDive is already serving thousands of API calls per day to private beta customers in e-commerce and media, and a recently completed company survey found that users voted an astonishing 70% of GraphDive’s personalized results as “very relevant,” the highest possible mark on the survey. A separate study found that approximately 80% of Facebook users do not declare their age, further validating the need for businesses to access GraphDive’s inferred age estimates.
“We founded GraphDive with the vision that each individual is unique, so businesses should personalize their offerings to each of us uniquely,” remarked serial entrepreneur and GraphDive Co-Founder/CEO, Shahram Seyedin-Noor. “The explosive growth of social data, combined with the adoption of Facebook Connect, presents an amazing opportunity for businesses to serve their customers using our Social API. Our platform is where Big Data analytics meets ‘social’ for the enterprise.”
Co-Founder & CTO Sina Sohangir added: “We’ve built a powerful Knowledge Graph that understands the context of every word, concept and even celebrity name. Our technology helps businesses leverage social data like never before to draw useful insights and inferences from users’ Facebook chatter.”
GraphDive is using its seed financing to scale its team to meet customer demand and build out its industry-specific product offerings for e-commerce, travel and media. To request an invitation to use GraphDive for your company, visit http://graphdive.com/signup.
GraphDive unlocks the power of social data from Facebook Connect to allow vendors to create a more personalized shopping experience. GraphDive’s algorithms “make sense” of social media activity and help merchants discover shopper interests and demographic insights (age, education, income) to personalize product recommendations, drive user engagement and boost revenues.