OneFold, a mobile and wearable data analytics platform, has raised $400,000 in a seed round of funding from Studio 9+ and a pool of angel investors. The majority of the angel investment came from the Studio 9+ Syndicate on AngelList.
Peter Relan, ex-Oracle executive and founder of Studio 9+ accelerator today announced that OneFold has completed its seed round of $400,000 in funding from Studio 9+ and a pool of angel investors. Majority of the angel investment came from the Studio 9+ Syndicate on AngelList. OneFold, a mobile and wearable data focused analytics and visualization platform expects to use the seed funding to build out its product.
Cloud-Based DHQL Platform
OneFold is focused on analyzing data generated by mobile usage and wearables. OneFold uses a new architecture based on its proprietary cloud-based “DHQL” platform. It leverages recent inflections in the price of storage and massively parallel cloud computing to deliver deep analytical insights to organizations publishing mobile, mWeb, and wearable apps. The DHQL platform is a complete re-architecture of the analytics technology stack from data extraction to visualization. It requires no IT resources from organizations deploying it and no data scientist resources to deliver actionable insights to product, revenue and marketing managers.
“OneFold has developed a unique approach to transform, analyze and visualize the enormous amount of data coming from mobile and wearables,” said Jerry Held, OneFold advisor and former Chairman of big data company Vertica (acquired by HP for $280MM).
Benefits of OneFold’s Technology: Democratizing Analytics
OneFold’s mission is to empower end users of analytics information in mobile and wearable companies. These managers are looking to optimize engagement and monetization in a market that is expected to capture $200B in revenues through in-app purchases and m-commerce by 2017. The company is currently in private beta with several such mobile-enabled organizations.
“Organizations with mobile apps, m-commerce or wearable apps are struggling with enormous volumes of data being generated for entirely new types of user behaviors compared to behaviors seen on the web or the desktop,” said Peter Relan, Chairman of OneFold. “Analytical insight has so far required expensive tools and data scientists to mine the terabytes to exabytes of generated data. OneFold empowers mobile product executives to directly get 80 percent of the insights they need instantly through an insanely intuitive user interface while efficiently utilizing their valuable data scientists for the very complex 20 percent of insights that cannot be answered in real time.”
“Having managed mobile product development at Intuit and TeleNav, I saw the gap between the analytical insights needed by product executives and the actual insights delivered by tools today, even with the help of expensive data scientists,” said Navneet Aron, Stanford graduate and OneFold Co-Founder. “We’ve reimagined the problem in the context of 10x lower storage costs and cloud computing costs in 2013 and created our DHQL platform for this new cycle of mobile and wearable computing.”
“Mobile and mWeb app publishers want direct and timely access to deep behavior insights of their users in attempt to boost app engagement and conversions. We have validated this with dozens of mobile-enabled organizations; several of which are now in our private beta,” said Oracle alumnus Uday Sandhar, OneFold Co-Founder and Business Head.
OneFold is focused on Big Data generated by Mobile and Wearables. OneFold eliminates the burden on data scientists for 80% of analytical insights needed by Product Managers and Marketing organizations to optimize Mobile App revenues (projected to reach $200B yearly run rate by 2017 in m-commerce, travel, financial & gaming verticals). Companies in the big data space, but focused on other aspects of big data analytics are: Databricks (Funded by A16Z), Trifacta (funded by Greylock, Accel Partners), and ClearStory Data (funded by KPCB, Google Ventures, A16Z), and Origami (funded by Accel, Lightspeed and Jafco Partners).
Based in Menlo Park, California, OneFold is founded by engineer entrepreneurs from Oracle and Intuit, with 20+ years experience building and growing mobile and enterprise software products in small and large Silicon Valley companies. OneFold has been accelerated at Studio 9+ accelerator (www.studio9plus.com). Learn more at www.OneFold.io
OneFold has completed its seed round, and is not soliciting any funding. This press release is not an offer to purchase, a solicitation of an offer to purchase or an offer to sell securities.