Everyone knows “realtime” has been a hot tech category for the last year or so but as we all know the ‘realtime problem’ is getting some kind of intelligence out of that firehose, and, crucially, eventually working out if or how it can be monetised. Search found its way with keyword targeting, but what will happen around realtime?
The Cognitive Match startup is applying artificial intelligence, learning mathematics, psychology and semantic technologies to match content (product, offers, or editorial) to realtime content. It’s doing this in part by relying on an academic panel of professors in artificial intelligence from Universities across the UK and Europe who specialise in machine learning and psychology. The idea is to ensure maximum response from individuals, thereby increasing conversion, revenue and ultimately profit.
Last year it raised a Series A investment from Dawn Capital, rumoured to be in the $1m+ ballpark. Today Dawn has stepped in again with a follow-on Series B investment of $2.5m which the company will use to accelerate its growth. That takes it’s war-chest to around $3.5m
Cognitive Match uses similar mathematics to Wonga (which Dawn has also invested in). The idea is to replace the “2.0” content matching approach of “People who bought this also bought that” with “We believe this is what you are looking for”. It’s effectively a B2B model with companies such as Yahoo, Sporting Index and some clients descibed as “blue chip” using its technology. Chad Raube, partner at Dawn says the science behind Cognitive Match’s product is “scalable and dramatically improves the response rates.”
Founder CEO Alex Kelleher previously co-founded analytics and data mining company Touch Clarity (which sold in 2007 to Omniture), and prior to that was Founder CEO of London-based web agency Vivid Edge (sold in 2000 to Framfab). Advisors include serial entrepreneur Esther Dyson, and i-Level co-founder Andrew Walsmsley.