The market for Big Data hardware, software and services grew 23.5% to $22.6 billion in 2015, according to market researcher Wikibon, and is expected to increase at a compound annual growth rate of 14.4 percent to $92.2 billion by 2026 – which make for enticing figures for startups looking to scale up fast.
Inbenta provides a cloud-based, semantic search technology and specializes in natural language processing to optimize online customer experience through Artificial Intelligence-powered technology. Their solutions allow businesses to increase the efficiency of their customer service, call centers, e-Commerce, FAQs and social media platforms with support services such as dynamic FAQs, knowledge management and virtual assistants. Since starting their journey in 2005, this Barcelona-based startup has already worked with BBVA, Groupon and Ticketmaster and now has offices in the US, Brazil, France and Chile. 2017 looks to be an exciting year for Inbenta after sealing $12m in funding in 2016.
3. Big ML
BigML has had a very clear goal since 2010 – bringing Machine Learning to the masses. Since then, they have built an accessible platform to “uncover the hidden predictive power of data with ease”, providing sophisticated Machine Learning-based solutions which make it easy to solve and automate classification, regression, cluster analysis, anomaly detection and association discovery tasks. Headquartered in Oregon, with their second office in Valencia, they are helping thousands of analysts and software developers around the world to transform data into predictive models. Their founder, Francisco Martin, said in this interview that “BigML will enable Data Scientists to work a lot more efficiently than they currently do.”
British-Israeli startup, Pixoneye, uses image understanding technologies to create analytical capabilities of mobile users for predictive personalization needs, based on users’ personal mobile photo galleries. Data mining on mobile devices still relies on primitive capabilities such as geolocation and browsing patterns and many companies attempt to create recommendations and predictions based on this primitive data. Pixoneye has created a technological solution that allows marketers and brands to analyze and personalize their mobile audiences based on their personal photo and video albums. After raising just under $3m in funding in 2016, the future looks bright for this Wayra-accelerated startup.
Spanish startup, CARTO, is a platform for discovering and predicting the key insights hidden in our world’s location data. Their powerful visualization tools have enabled them to grow fast with more than 200 employees between their offices in Madrid and New York, as well as closing a whopping €23m Series B funding round in 2015 to continue their expansion. Here at LUCA, we are also working with CARTO to unlock the insights in our mobile data as well as enabling our corporate customers to enjoy the benefits of geospatial intelligence.