Google’s AI-focused venture fund leads $5.4M investment for Seattle analytics startup Iteratively

Iteratively CEO Patrick Thompson. (Iteratively Photo)

Seattle startup Iteratively raised a $5.4 million round led by Gradient Ventures, Google’s AI-focused venture fund.

Founded in 2019 by veterans of Atlassian and Microsoft, Iteratively sells software to data and product teams for customer analytics tracking. The idea is to help prevent data quality problems at the outset of entry and have standardized customer data in one place. Iteratively integrates with third-party data analytics tools such as Amplitude, Mixpanel, Segment, dbt, and more.

Box, Beekeeper, thredUP, Dribbble, and others are clients.

The 10-person company is led by CEO Patrick Thompson, who co-founded Iteratively with Ondrej Hrebicek. They previously worked together at Syncplicity, a file sharing startup co-founded by Hrebicek that was acquired by EMC in 2016.

“We kept hearing the same thing from data and product teams that they have lost confidence in their analytics,” Thompson said in a statement. “We built a tool that helps them rebuild trust in their data and empowers them to collaborate on analytics. We believe data is a team sport and collaboration is key for cross-functional teams to succeed.”

Fika Ventures and PSL Ventures also participated in the round. PSL Ventures led a previous round in 2019. Zach Bratun-Glennon, partner at Gradient Ventures, joined the board.

“The Iteratively team possesses a relentless focus on finally creating the source of truth for analytics data,” PSL wrote in a blog post. “This trustworthy foundation unlocks countless new data use cases from personalization and recommendation engines to drive growth, churn prediction and prevention to improve retention, and new 1-1 marketing scenarios.”

Google launched Gradient Ventures in 2017 as part of Alphabet’s continued investment in AI. Gradient portfolio companies get access to AI training from Google and help from Google engineers.

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