Daniel Loreto has joined Venrock as an entrepreneur-in-residence in the firm’s New York office. Loreto is a former engineering leader at Google and Twitter, as well as the cofounder of Julpan, a data analysis and search engine that was acquired by Twitter in 2011.
NEW YORK, NY–(Marketwired – Jul 19, 2013) – Venrock, a pioneering venture capital firm established in 1969 by the Rockefeller family, today announced the addition of Daniel Loreto as an entrepreneur-in-residence at its New York office. Loreto is a former engineering leader at Google and Twitter and the cofounder of Julpan, a real-time data analysis and search engine that was acquired by Twitter in 2011. Loreto joins a bi-coastal technology team, working alongside Nick Beim, Marissa Campise and David Pakman in New York, and will be focused on emerging big data opportunities.
Raised in Venezuela and educated at MIT, Loreto worked for four years in Google’s New York office, where he was a technology lead in the Search Quality team and started the Structured Data group. In 2006, he co-founded Julpan, a technology company that analyzes real-time social data from over a hundred million users to determine the most relevant possible content for users. Twitter acquired Julpan in 2011 and the company became Twitter’s New York office.
While at Venrock, Loreto will be developing theses around big-data startup opportunities and hopes to start a company to pursue one or more of these opportunities. “Big data and real-time data are rapidly growing waves that will disrupt most information-intensive industries,” said Loreto. “We are still in the early stages of this disruption.” Loreto will be looking for opportunities across a variety of sectors, including technology, financial services, healthcare, retail and advertising.
“There are few entrepreneurs who have the depth of experience Daniel does in large-scale data analysis and real-time signal discovery,” said Beim. “We are very excited to be working with him.”
IDC’s most recent worldwide Big Data technology and services market forecast shows that the worldwide Big Data technology and services market will grow at a 31.7% compound annual growth rate — about seven times the rate of the overall information and communication technology (ICT) market — with revenues reaching $23.8 billion in 2016.
Originally established as the venture capital arm of the Rockefeller family in 1969, Venrock continues a tradition of partnering with entrepreneurs to establish successful, enduring companies. With a primary focus on technology and healthcare, portfolio companies have included Adify, Apple Computer, Athenahealth, Centocor, Check Point Software, DoubleClick, Endeca, Gilead Sciences, Idec Pharma, Imperva, Illumina, Intel, Millennium Pharma, SlideShare and Tudou. For more information, please visit Venrock’s website at www.venrock.com and follow the firm on Twitter at @venrock.