Anodot, a Ra’anana, Israel-based AI-powered analytics company, raised an additional $15m in Series B funding.
The round was led by Redline Capital Management with participation from existing investors Aleph Venture Capital and Disruptive Technologies Venture Capital. This new funding brings the total amount raised in Series B to $23m.
The company intends to use the funds to open offices in London and APAC, grow its US team, and invest in sales, marketing and customer success.
Co-founded in 2014 by CEO David Drai, Ira Cohen and Shay Lang, Anodot leverages automated machine learning algorithms to continuously analyze all business data, detect the business incidents that matter, and identify why they are happening by correlating them across multiple data sources. The company serves customers in fintech, ad-tech, web and mobile apps, and other data-heavy industries.
Over the past year, Anodot more than tripled its revenues, with customers such as Foursquare, Lyft, Microsoft, Upwork and Waze (Google), and is gearing up for further expansion in 2018.