SEATTLE, April 6, 2017 /PRNewswire/Korea IT Times-- DataWeave, an emerging SaaS company that provides Competitive Intelligence as a service to consumer brands and retailers, announced today that it has raised an undisclosed amount in Series-A funding, led by FreakOut Group from Japan, Herb Madan - a Silicon Valley-based venture capital investor, and a diverse group of institutional investors from the US, India and Singapore.
"We will deploy these funds to expand our sales, marketing, and customer success initiatives, especially in North America," said Karthik Bettadapura, Co-founder and CEO at DataWeave. "We will also invest in scaling our data products to serve the growing global demand for easily consumable competitive insights."
"DataWeave's AI-based products solve hard problems for global enterprise customers who need competitive data and insights on a consistent basis," said Yuzuru Honda, Global CEO at FreakOut Holdings, Inc. "The Company delivers real-time actionable insights, which can give businesses a huge competitive advantage across industries and geographies. We are excited to be partnering with a company that is on a rapid growth trajectory such as DataWeave."
This round of investment is driven by the significant revenue ramp the company has seen in the last 18 months. "We have witnessed strong traction across all our target segments and geographies over the last year and a half, even in the highly competitive North America market. Customers choose us due to the actionability and scale of our insights, and the simplicity of our solutions," said Karthik.
"DataWeave's technology and data hold a strong and unique value proposition for companies all over the world," said Herb Madan, a Silicon Valley-based venture capital investor. "This latest fundraise will help the team further enhance their solution stack and move up the value chain with customers not only in North America, but also globally."
DataWeave currently serves global customers across North America, India, South-East Asia and the Middle East.
DataWeave founded in 2012, DataWeave is an emerging SaaS company that provides actionable competitive intelligence to businesses by harnessing publicly available data on the web. Their technology platform aggregates and analyses millions of unstructured data points across multiple data sources to enable enterprises to better understand competition, monitor their brand, and optimize offerings for their customers.
