Like every good Startup Weekend project, great teams and companies are born out of solving a very real problem. The same was true for John De Goes, one of the founders of Precog, the now market-leading provider of infrastructure APIs for data analysis.
The media company John worked at had tasked him with “building an analytics platform capable of capturing and analyzing billions of ad interactions a month, and using the results to power dynamic creative optimization, ad targeting, and high-level reporting for advertisers. He soon found that the assignment he had been tasked with didn’t have a good solution.
In October 2010, John decided to do something about this problem and founded a company dedicated to producing the world’s ﬁrst data intelligence-as-a-service offering at Startup Weekend Denver.
In May of 2011, John’s startup was accepted into the Techstars 2011 Boulder class. Three months later, ReportGrid was born — a powerful developer-oriented API that provided analytics and data visualizations. ReportGrid was well-received and immediately began to be adopted by B2B SaaS vendors who wanted to provide analytics and reporting to their customers. During the process of bringing ReportGrid to market, they discovered customers with even more sophisticated needs.
This gave rise to Precog, a company set on providing the best data intelligence as a service. The latest step in Precog’s journey takes form in a 2 million dollar round of funding. Below is a brief snippet of their press release containing some exclusive details of their new deal.
“Boulder, CO, May 24th 2012 — Precog, the market-leading provider of infrastructure APIs for data analysis, today announced today announced that it has secured $2M in funding led by RTP Ventures, and joined by Resonant Ventures and David G. Cohen. The money will be used to advance Precog’s data analysis technology, launch marketing and business development programs, and accelerate the company’s growth and customer successes.
Precog is capitalizing on the explosion of data-driven applications — applications that collect and analyze huge amounts of multi-structured data to power a wide range of product features, including personalization, recommendations, insights, reporting,
predictions, and real-time decision-making. Precog’s enterprise-class infrastructure APIs allow application developers to quickly and easily incorporate these and other data-driven features into their applications.
“We’re on the cusp of a data-driven revolution,” says John A. De Goes, CEO of Precog. “Applications are becoming increasingly sophisticated in their use of data. We provide application vendors with the ability to solve any problem in data analysis without having
to write piles of code or maintain costly big data infrastructure. We let developers focus on what they want to do with their data, instead of how to do it, and in the process, we save companies millions and years in R&D.”