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StarVest Portfolio Transforms Big Data Challenges Into OpportunitiesGrowth Companies Using Data to Consolidate Reporting, Provide Customer Usage Insight and Create Cost Efficiencies (January 18, 2012)
NEW YORK, NY -- (Marketwire) -- 01/18/12 -- We create 2.5 quintillion (or 2.5(18)) bytes of data every day, according to IBM, with ninety percent of the data in the world created in the last two years alone. Corporations across all industries globally are struggling with how to retain, aggregate and analyze this mounting volume of what the industry refers to as Big Data. According to StarVest Partners, a New York City-based venture capital firm investing in technology-enabled business services companies throughout the United States, Big Data provides a unique opportunity for innovative startups that recognize the business prospects Big Data presents.
StarVest identifies these opportunities as:
- Privacy - Controlling who needs or has a right to know the data
- Rights Management - Who actually owns the data?
- Data Integrity - Is the data accurate? If not, how do you make it so?
- Relevance - What data is really worth knowing and how do you filter out the noise?
The firm has created a strong portfolio of companies that are seizing upon these trends. A sample of these companies includes:
- Accept Software allows companies to aggregate data to create analytical reporting to guide planning and execution and ensure the highest data integrity by incorporating analytics directly at the point of decision making.
- Host Analytics consolidates financial data for a company across various entities and financial systems, allowing them to uncover the data that is most relevant.
- In the ecommerce world, ideeli utilizes data about the customer, including what and how they buy and their lifetime value, to create data metrics that are crucial to customer segmentation and successful interactions.
- As an online marketplace for power equipment, IRON Solutions aggregates equipment data for dealers to provide valuable business intelligence.
- PivotLink monetizes data from disparate retail systems and pulls it all together in a single picture to show what is being sold, unit pricing and more.
- Travora Media, Inc. builds, organizes and serves online audiences, providing contextual and behavioral means of advertising.
- Xignite merges financial data for a company in a more cost efficient manner, in addition to organizing and customizing data which can be sold to companies.
"With the launch of the StarVest II fund more than three years ago, we voiced our belief that digital companies that could aggregate and analyze data and provide solid insights to customers were going to be the next wave of successful companies," said Larry A. Bettino, general partner, StarVest Partners. "We were early to see the growing marketplace for companies that not only worked with Big Data, but understood the growing need to use technology to help solve the challenges executives working with Big Data are being faced with on a daily basis. We expect the popularity of these companies to grow as we move into the New Year, and look forward to finding new entrepreneurs with original ideas on how to take full advantage of the opportunities Big Data provides."
About StarVest Partners
StarVest Partners is a New York-based venture capital firm with $400 million under management that is funding technology-enabled business services companies throughout the United States. The firm's value-added partnership maintains a laser focus on five key emerging technology and services sectors: Software as a Service (SaaS), Internet Marketing Services, eCommerce Services, Data Aggregation Services and Identity and Security Management. StarVest combines a sophisticated investment background with the experience to foresee opportunities for both its portfolio companies and funding partners. The firm invests nationally having invested in companies that are recognized as "Fastest Growing" in California, Texas, Arizona and now New York. The firm's general partners are Deborah A. Farrington, Laura B. Sachar, Jeanne M. Sullivan and Larry A. Bettino. More information about StarVest is available at the company's Web site: www.starvestpartners.com.
StarVest Partners Press Contact:
212.255.0080, ext. 12
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