Boulder, CO, May 24th 2012 — Precog, the market-leading provider of infrastructure
APIs for data analysis, 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.”
Precog’s technology is currently powering insights and intelligence in a growing number
of third-party applications across many verticals. “Working with the Precog team has
been fantastic,” says Eli Portnoy, CEO of ThinkNear, a mobile advertising platform with
pinpoint ad targeting. “The product was simple to setup, and the team has been
incredibly responsive and wonderful to work with.” ThinkNear uses Precog’s analytics
platform to capture thousands of interactions per second, and then surface high-level
insights to advertisers based on an analysis of this data.
“Investor frenzy surrounding Big Data makes ﬁnding a star company in this space akin
to ﬁnding a needle in a haystack.” said Kirill Sheynkman, Senior Managing Director of
RTP Ventures. “Precog is a rare ﬁnd. It is a company taming big data volume and
velocity challenges by creating a uniquely-architected, cloud-centric, developer-friendly,
SaaS platform for integrating, enhancing, and accessing huge sets of dynamic
information. For an investor who spent twenty years building data-centric infrastructure
businesses, seeing something shiny in Big Data’s murky waters was an epiphany.”
Sheynkman will join Precog CEO John De Goes and SendGrid CEO Jim Franklin on the
company’s Board of Directors. “I eagerly look forward to actively working alongside
Precog’s talented team, look forward to giving this diamond of a company the clarity and
the cut it deserves,” said Sheynkman.
Precog provides infrastructure APIs for data analysis to help developers incorporate
intelligence and insights into their applications. Headquartered in Boulder, Colorado,
Precog has been described as the Twilio of big data analytics, providing super simple
APIs that help developers solve arbitrarily complex problems in big data analysis.
Precog was founded by John A. De Goes, veteran technologist and big data expert, and
ofﬁcially unveiled at the Strata big data conference in February 2012. The founding
team consists of well-known engineers with backgrounds in big data, analytics,
langauge theory, and machine learning.