LONDON, UK, JULY 1, 2009 – Cognitive Match (www.cognitivematch.com), a pioneer in applying artificial intelligence technologies to increase online response rates, announced that it has raised Series A investment from Dawn Capital. The Company will use this investment to accelerate development of its core software products, and continue to build its blue chip client base. Chad Raube, Investment Partner at Dawn Capital, will join Cognitive Match’s Board of Directors.
Founder CEO Alex Kelleher previously co-founded leading 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). At Cognitive Match Alex has brought together an Academic Panel of eminent professors in artificial intelligence from Universities across the UK and Europe. These professors are at the forefront of machine learning technologies, and are delivering new ways of processing the vast amounts of data generated by each website. Co-Founder and Commercial Director Glen Conybeare (previously Head of Consulting at Touch Clarity, and then Client Services Director at iLevel Company Generator Consulting) heads up the client services team at Cognitive Match.
Cognitive Match applies a combination of artificial intelligence, learning mathematics, psychology and semantic technologies to create software solutions that match individuals with content in real-time on the internet. The software ensures maximum response from individuals, thereby increasing conversion, revenue and ultimately profit for Clients.
Esther Dyson, who is an advisor to the company, said “Cognitive Match automates what a person could do with unlimited time and attention, and allows best possible use of scarce online real estate”
“This is a very exciting investment for Dawn Capital and an important Web 3.0 investment in TMT, one of our focus sectors,” said Haakon Overli, Managing Partner of Dawn Capital. “Web 3.0 will be about the individual, receiving the right content at the right time and Cognitive Match looks to be a winner in this landscape. Chad Raube - Investment Partner at Dawn - who will go on the Board is a web industry veteran and Chairman of the European Cable and Telecom Association for Marketing. We expect his and our firm’s long standing experience the web sector will help Cognitive Match build a terrific business”.
Commenting on the investment, CEO Alex Kelleher said “Dawn Capital is an excellent fit for Cognitive Match, and we look forward to building a highly successful business with them. With the ever increasing volume of data generated by the activity of individuals online, there is an incredible opportunity to make the internet more relevant and more responsive. Our mix of machine learning mathematics and psychological techniques will liberate this data – meaning the billions of interactions that happen online every day will actually shape the internet to be better for us as individuals.” Commercial Director Glen Conybeare added, “Most site owners have started to hit the ceiling of the gains they can realise from good usability and content testing practices and are now seeking next generation tools that will drive the next step change in online conversion. Cognitive Match provides those tools.”
ABOUT DAWN CAPITAL (www.dawncapital.co.uk)
Dawn Capital are institutional investors and experienced business builders that have previously collectively invested in over 100 companies and been involved in several high profile rapid growth technology businesses, such as Virgin Media, Yahoo!, Advertising.com, Verisign and Self Trade.
Dawn Capital backs outstanding companies seeking expansion capital of up to £5M in the Financial Services and TMT sectors.
ABOUT COGNITIVE MATCH (www.cognitivematch.com)
Cognitive Match uses a mix of technologies to match individuals with content online and personalise their experience online. This matching stimulates higher rates of response and/or purchase and ultimately profit. Web 3.0 is about using data in real-time to make content, products and offers easier to find and more relevant to each individual. Cognitive Match has created light but highly effective software to enable this shift, and to focus on predictive, not private, data. For more information, visit http://www.cognitivematch.com or call us at +44 (0) 203 205 0004