Cognitive Logic, a UK-based startup that specializes in providing business analytics has raised $3 million in seed funding. The round was led by Los Angeles’ Upfront Ventures, along with IA Ventures.
The new company is a venture by Neil Halstead, a British entrepreneur and Founder of human data intelligence company, DataSift.
A major breakthrough for a two-weak old company, Creative Logic will use the money in product development, transforming its vision of connecting and analyzing businesses’ disparate datasets in realtime. While DataSift focuses on Social Media, Creative Logic will combine data from different enterprises to analyze it. “We want to join data between multiple companies without either company having to send the raw data, but gain insights from combining those datasets,” said Halstead who spent eight years in DataSift before resigning in October last year.
“My work at DataSift has shown me many new technologies that will allow us to build solutions that allow companies to do research but without exposing individuals private information,” he added.
Despite his resignation from Datasift, Halstead’s undertaking in the company will involve combining different unstructured datasets as anonymous data firehoses and organize it efficiently for enterprises and brands to get a better idea of consumer preferences without compromising privacy.
What is in it for enterprises?
Organizations who are struggling with enterprise based challenges involving security breaches can avail the services to resolve the issue by aggregating data and ensuring no personally identifiable information (PII) is available. In addition, the service will enable different companies to join forces and combine two completely different datasets in order to identify key trends and insights into the behaviour of customers and prospects. This not only sets the demographics right but benefits participating companies with inputs that determine the spikes and lows of the market. It will also serve as a founding research that will help market analysts study growth and evolution patterns.
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