Noogata, an Israeli AI-powered business intelligence startup, secured $12 million in Seed funding on Tuesday. The investment was led by Team8, with Skylake Capital also participating in the round.
No data-science team?
Noogata developed a platform that allows enterprises to connect their databases to “blocks” - pre-configured models and algorithms targeted at providing defined business intelligence.
Noogata’s no-code platform seamlessly integrates into existing systems, and continuously automates solution response - updates, data configuration, AI training, and calculations. CEO Assaf Egozi told Geektime that “Instead of employing a whole data science team to configure, develop, and maintain the system’s smart algorithms, business insight can be achieved simply through the Noogata platform, where users can find galleries full of end-to-end solutions, which can be adapted to enterprise needs.”
Noogata democratizes the development of enterprise applications by empowering non-developers to build the tools they need. At the core of the Noogata solution are modular, pre-set “AI blocks,” which are engineered to target mission-critical business needs such as managing eCommerce channels and supply chains and enhancing marketing ROI. This, according to the company, aims to help enterprises make better, smarter decisions.
CTO Oren Raboy tells us that most of the existing intelligence platforms on the market require data science and engineering teams or business development personnel to manually develop, define, and maintain every single solution for every problem. “Noogata supplies access to galleries of pre-configured, ready to push solutions,” he explains.
Noogata was founded by Egozi and Raboy in 2019 as part of Team8’s innovation initiative. The company, which has offices in Tel Aviv and New York, will look to use the funds to expand sales and BizDev teams.
Yuval Shachar, Managing Partner at Team8, said: "Noogata is perfectly positioned to address the significant market need for a best-in-class, no-code data analytics platform to drive decision-making. The innovative platform replaces the need for internal build, which is complex and costly, or the use of out-of-the-box vendor solutions which are limited. The company’s ability to unlock the value of data through AI is a game-changer. Add to that a stellar founding team, and there is no doubt in my mind that Noogata will be enormously successful.”