CoolaData Secures $5.6M in Funding

CoolaData adds Salesforce Ventures and TEEC Angel Fund as investors

CoolaData, the pioneer in behavioral analytics, bringing a new approach to business intelligence, today announced that it has raised a total of $5.6M from Salesforce Ventures, TEEC Angel Fund and the existing investors in CoolaData’s Series A, 83North and Carmel Ventures.

The funding will be used to accelerate CoolaData’s worldwide growth and extend its reach into IoT and enterprise applications.

CoolaData is a cloud-based behavioral analytics platform offering companies a deep understanding of user behavior across all channels, and providing quick answers to complex business questions. As proven by dozens of CoolaData customers, its time-series analysis of user behavior enables product, marketing and business teams to discover vital information such as user acquisition, churn prediction, retention drivers and customer life-time value optimization, making companies more successful.

CoolaData’s behavioral analytics complements Salesforce Wave Analytics, which empowers any business user-from sales reps to service agents to marketing managers-to get smarter about their customers with real-time, actionable insights on any device. This is particularly relevant given the increasing importance of providing more granular and personalized analytics in real-time on big data sets.

This new funding will fuel CoolaData’s growth, and our ability to reach online businesses, providing deep understanding of user behavior,” says Tomer Benmoshe, CEO of CoolaData. “Our goal is to enable the product and marketing teams of our customers to obtain instant answers on a vast amount of behavioral data.”

Author: Dylan Jones

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