UPDATED 11:40 EDT / MAY 24 2012

Precog’s Raises $2M for Drag ‘N Drop Analytics Interface

This week a startup called Precog that it received $2 million in a first round of funding led by RP Ventures, only three months after it came out of stealth at the Strata conference.

The company offers a cloud-based platform that analyzes the unstructured data streams a developer is tapping into, such as social media interactions and geotagged activity. It then allows the user to translate the real-time results that the system produces into new capabilities:  everything from shopping recommendations to more behind-the-scenes functionality such as reporting.

At the same time, the time investment that this would normally require is dramatically reduced thanks to a drag and drop panel that covers most aspects.

The really interesting part, however, is the integration. Precog offloads the streams associated with the entity data in a customer’s database to its own servers for analysis, and as a result can support almost every use case and an equally long list of programming languages. A developer can use the service’s REST API to integrate with data sources such as Twitter, while incorporating the service into a mobile app, we application or a backend system.

“For an investor who spent 20 years building data-centric infrastructure businesses, seeing something shiny in big data’s murky waters was an epiphany,” said Kirill Sheynkman senior director of RTP Ventures. He is joining Precog’s board of directors alongside SendGrid CEO, Jim Franklin.

The offering is currently in beta, and evidently already managed to impress a few VCs in addition to an initial customer base. Precog calls itself the world’s  first data intelligence-as-a-service, and is based on a subscription model that allows users to choose from different performance and capacity options. The same functionality is available with all plans, which range from 100 free megabytes to deployments in excess of one terabyte.


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