Avora, a business intelligence software company, has raised £1.5 million from Crane Venture Partners and angel investors Peter Simon, founder of clothing retailer Monsoon, and Steve Garnett, former chairman of Salesforce EMEA.
London-based Avora’s business intelligence and machine learning as a service product is used by companies that need to better understand their data and extract key insights from their business metrics so they can act on this information. It plans to use the new funds to expand into the US and grow its enterprise software team. The company was founded by Ricky Thomas, founder of DatingUK and PetMeds.
Business intelligence software has failed to live up to expectations, said Thomas.
“Traditional BI just generates charts, doesn’t tell where you look or help you do your job, there’s nothing intelligent about them,” he said. “With Avora we have created a software service to connect disparate data sources without the massive infrastructure investment and coding knowledge.”
It counts advertising agencies like AKA, Adtrak, and Karmarama among its client base.
“Using Avora gives businesses the advantages of a team of data scientists and business analysts without the upfront investment of typical business intelligence systems and data science teams,” added Crane Venture Partners’ Scott Sage.