Singapore-based startup venture, Latize, which focuses on linked data analytics solutions, completed a Series AA round of funding. The financing was led by August Capital Partners (ACP) and Spring Seeds Capital (SSC) along with other unnamed private investors.
The amount is claimed to be in single-digit millions.
The latest round of funding will be used to grow capacities in their R&D for Ulysses, their flagship data analytics product. It will also be used for talent acquisition efforts targeted at expanding their sales and marketing team.
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This latest round of funding follows in the wake of the Infocomm Development Authority (IDA) of Singapore accrediting it under its Accreditation@IDA scheme earlier this month. Designed to indicate confidence to potential government and enterprise buyers on the company’s core capabilities and ability to deliver, the certification also enables Latize to be considered by government agencies when seeking data analytics solutions.
Among the numerous Big Data startups that have emerged within the ASEAN markets, Latize’s claims differentiation. The company uses a semantic web framework, in the form of data processing layer, combined with machine learning, to refine the raw data across different business systems and databases, in order to determine and present relevant information to users.
According to the Latize website, it enables specific business outcomes via ABM (account based marketing) and OA (operations analytics) solutions. It connects with various backend data sources within a company, such as a CRM database, integrating them into a web of linked data that can be indexed, sorted and understood, so that insights are easier to glean.
According to Singapore tech blog e27, the founders are focused on catering to the developments in the Internet of Things (IoT) and plan to make a public announcement about machine data transfer methods sometime in the future, along with the possibility of market expansion into the Indian and Japanese markets.