Israeli startup Noogata announced Tuesday that it has raised $16 million in Series A funding led by Eight Roads, the global venture capital firm, with participation from Allon Ventures. The company has raised a total of $28 million to date, with seed investment made by Team8 and Inference Partners.
Noogata’s code-free Artificial Intelligence (AI) platform is designed for business users who need to turn their data into actionable insights quickly and easily. Its clients include Colgate-Palmolive, PepsiCo, mDesign, and Bugatti. As organizations leverage an increasing number of platforms across different business functions, Noogata enables professionals to integrate billions of data points from multiple sources to make timely and critical data-driven decisions.
“Since launching the Noogata platform in March 2021, we have consistently demonstrated a strong market fit, experienced 400% growth in annual recurring revenue (ARR), and rapidly grew our customer base – from Fortune 500 companies to smaller consumer brands,” said Assaf Egozi, CEO. and co-founder of Noogata.
A key feature of Noogata’s accessible, no-code platform is the use of AI Blocks – a comprehensive plug-and-play data solution that provides insights into specific use cases. An AI block contains everything a user needs to take their data and turn it into actionable insights to help solve a specific business problem – from data preparation, enrichment, and modeling to creating output.
With more than 40 employees currently in Tel Aviv and New York City, Noogata will be assigned to a variety of roles this year, including leadership roles in engineering, finance, sales and customer success — with a goal of having more than 100 employees by the end of 2022.