CoolaData Closes $7.5 Million Series A Round

CoolaData, provider of big data analytics as a service, announced the closing of $7.5 million in Series A funding from Greylock IL and Carmel Ventures.

CoolaData improves customer lifecycle management by providing fully actionable, unified behavioral analytics solutions for online companies. The company’s technology offers the ease and fast onboarding of an out-of-the box solution, combined with the scale, analytic power, flexibility and openness traditionally achieved by self-development.

CoolaData’s founders, Tomer Ben Moshe and Guy Greenberg, are BI/big data veterans and serial entrepreneurs.

“CoolaData offers the ability to answer complex business questions which cannot be addressed by traditional BI tools,” said the company’s CEO, Tomer Ben Moshe. “Our unique, open interface allows customers to easily turn insights into actions by enabling them to embed CoolaData analytics into their own systems.”

The service is in beta with several e-commerce, gaming and mobile customers. These customers benefit from a combination of scalability, extensibility and sophisticated analytical power, without the burden of having to invest the resources and know-how required to build a big data solution.

The service will be available in the first quarter of 2014.

Yoram Snir, partner at Greylock IL and Avi Zeevi, general partner and co-founder of Carmel Ventures, joined the company’s board of directors.

“We have seen the need for scalable, deep and open analytics capabilities provided as a service across our portfolio,” said Yoram Snir, Greylock IL. “CoolaData offers a cost-effective service that can replace expensive and lengthy development of big data capabilities for most, if not all the companies we came across.”

Avi Zeevi, Carmel Ventures, added: “We’ve watched Tomer, Guy and their team at CoolaData transform the company from an innovative start-up to one that delivers an advanced unified behavioral service for mobile and web analytics. It’s not about pageviews anymore – what business users value now is actionable analysis of customer behaviors.”