Noogata Raises $16M For Its No-Code AI Analytics Platform

Israeli AI machine learning startup Noogata, raised $16 million in Series A funding last week to accelerate the company’s US expansion and its R&D investments in Israel, the company said in an announcement.

The round comes nearly a year after the company raised $12 million in seed funding in a round led by Tel Aviv venture group Team8.

The round was led by venture capital firm Eight Roads, with contributions from Allon Ventures. This brings Noogata’s total funding to $28 million, building upon the seed investment funding provided by Team8 and Insight Partners. 

The latest capital will be used to rapidly grow the company’s sales, marketing, and product development teams in order to scale up its no-code AI analytics platform for enterprises. This includes extending integrations with datasets from Amazon, direct to consumer, Google, and potentially others to the platform. Noogata will also start cultivating partnerships with large data warehouses, such as Snowflake.

Noogata also aims to widen its range of solutions in the form of AI blocks –– an end-to-end, plug-and-play data solution that provides insights for specific use cases, the company said. An AI block contains everything a user needs to take their data and turn it into actionable insights to help solve a given business problem, from data preparation, enrichment, and modeling to output generation.”

Founded in 2019, Noogata grants enterprises the ability to easily integrate AI at scale into key operational processes that improve the decision-making, operations, efficiency, and profitability of enterprise brands. Noogata’s platform integrates and compiles billions of data points from multiple sources that can inform the best data-driven decisions for businesses in a timely manner. Noogata’s clientele brands include Colgate Palmolive, PepsiCo, mDesign, and Bugatti.

“Since launching the Noogata platform in March 2021, we have consistently demonstrated strong market fit, have seen 400 percent growth in annual recurring revenue (ARR), and have been growing our customer base rapidly – from Fortune 500 enterprises to smaller consumer brands,” said Assaf Egozi, CEO and co-founder of Noogata. “The new investment will allow us to accelerate the expansion of our platform to new use cases and sectors – empowering any business user in any organization to leverage easy-to-understand and actionable data to answer their specific business questions.”

Noogata has more than 40 employees between its Tel Aviv and New York offices and will be hiring more personnel for leadership roles in engineering, finance, sales, and customer success, aiming to secure 100 employees by the end of the year.