Nugit raises $5.2M using AI to make sense of big data


In today’s era of big data, there’s a need for organization and efficiency. That’s the premise of Nugit, a Singapore-based startup focused on marketing that raised $5.2 million in fresh funding from Sequoia Capital’s India fund this week. Nugit landed undisclosed seed funding from 500 Startups and The Hub Singapore last year.

Founded by Australia-born marketing executive David Sanderson, Nugit sits between its customers and their data platforms — it supports 15 right now including Facebook Ad Manager, Google AdWords and DoubleClick — to help make sense of realms of information. The idea is make a digital marketer’s job easier by cutting down on noise and producing “decision-ready reports,” such as PowerPoint presentations, graphics and other visualizations.

The company started out automating many of the processes that marketers are faced with when dealing with data, such as cleaning information and aligning it,  until Sanderson — formerly of GroupM and other ad agencies — realized that computers could go beyond that and deliver insight that is difficult or seriously time-consuming for humans.

“It’s an exciting time for marketing, especially in the digital space, but there’s a lot of data and marketers can’t handle the analysis very well. There’s only so much capacity humans have to process data before you have to leave some behind, [plus] people in brands are sick of collecting data, and want information that they can make decisions from,” Nugit CEO Sanderson told TechCrunch in an interview.

Read the source article at TechCrunch