Behavioral Analytics Startup CoolaData Raises $5.6M Series B

Behavioral analytics startup CoolaData announced this morning that they have secured a Series B funding round worth $5.6 million dollars. The investment was made by Salesforce Ventures, TEEX Angel Fund and existing partners 83North and Carmel Ventures. The new cash flow will allow CoolaData to accelerate plans for global growth and extend its reach into the Internet of Things and support for enterprise-class software solutions.

CoolaData is a cloud-based analytics platform that enables companies to gain an in-depth understanding of user behavior across all of their channels. This enables those organizations to provide quick and accurate answers to complex business problems. CoolaData’s time-series analysis of user behavior enables product, marketing and business teams to discover vital information such as user acquisition, churn prediction, retention drivers and customer life-time value optimization.

CoolaData’s behavioral analytics platform complements Salesforce Wave Analytics, a solution that empowers business users to get smarter about their customers with real-time, actionable insights on any device, whether on-premise or in the cloud. CoolaData’s newest funding round brings their total investment to $13 million. Founded in 2012, CoolaData touts dozens of customers and is based out of Tel Aviv, Israel.

CoolaData’s CEO Tomer Benmoshe explains: “This new funding will fuel CoolaData’s growth, and our ability to reach online businesses, providing deep understanding of user behavior. Our goal is to enable the product and marketing teams of our customers to obtain instant answers on a vast amount of behavioral data.”

Click here to read the full press release.