Israeli anomaly detection co Anodot raises $3m

David Drei

David Drai, who sold Cotendo for $300 million, is looking to repeat the feat with Ra'anana based big data startup Anodot.

Four years after selling Cotendo for $300 million, David Drai is moving up a gear with a new startup. Ra'anana based Anodot exited stealth yesterday, introducing its real-time anomaly detection solution, in attempts to disrupt the static nature of today's Business Intelligence (BI) with patented machine learning algorithms for big data. Pinpointing performance issues and business opportunities in real time, Anodot enables its customers to increase operational efficiency and maximize revenue generation.

The company also announced it had closed a $3 million Series A funding round led by Disrupt-ive Partners, bringing total funding in the company to $4.5 million. The company will use the funding to accelerate its product roadmap and expand its sales activity, focusing on the ad tech, e-commerce, IoT and manufacturing industries in the US and EMEA.

Founded in June 2014, Anodot is the only analytics and anomaly detection solution that is data agnostic and automates the discovery of outliers in all business and operational data. Anodot’s platform isolates issues and correlates them across multiple parameters to surface and alert on incidents in real time.

Drai said, “I experienced the data analysis lag problem first hand as CTO for Gett. As a mobile taxi app, SMS text orders were dropped by the carrier, but it could take up to three days to spot critical issues and fix them, costing tens of thousands of dollars per incident. That’s where I got the idea for Anodot- to employ the latest advances in machine learning to detect performance problems automatically and in real time, eliminating the latency.”

“There is a huge opportunity to disrupt the BI market by enabling automated and real-time insights into big data pools of metrics and KPIs,” said Tal Barnoach, Anodot board member and general partner at The Disrupt-ive Fund, a privately held Tel Aviv/New York-based venture fund. “We have been with Anodot from the beginning. The team and the technology are terrific, we are impressed with the progress they have made to date and are excited to be participating in this next stage as they scale upward.”

Published by Globes [online], Israel business news - www.globes-online.com - on December 10, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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