People Pattern Secures $4.5 Million Series A Funding Led by Mohr Davidow Ventures
Austin, TX (PRWEB) December 31, 2013 -- Austin, TX, December 31, 2013 – People Pattern, with its audience segmentation and user classification platform for data-driven marketing, today announced its $4.5 Million Series A funding. Mohr Davidow Ventures, who was a seed investor in People Pattern earlier in 2013, led the investment round with additional participation from private investors. This investment enables People Pattern to widely deploy its platform which automates the collection and analysis of audience data.
People Pattern combines social business and data science. The company was founded by Ken Cho, who previously cofounded Spredfast, and Jason Baldridge, associate professor of Computational Linguistics at University of Texas at Austin. Its platform identifies high impact audience segments based on social and enterprise data, moving beyond simple demographic and psychographic data. Marketers are empowered with advanced, predictive segmentation data in real-time to better understand, target and engage active and prospective customers. With People Pattern, social marketing can be a science, not just an art.
“The next, critical wave of digital marketing is to leverage the massive amounts of marketing and social data collected across interactions happening every minute of every day,” said Bryan Stolle, general partner, Mohr Davidow Ventures. “People Pattern has an entirely unique approach of applying science and predictive analytics to uncovering who is saying what about your company or brand. These insights lead to the creation of actionable personas and micro-segments, powering companies to engage directly and in real-time with their audience in meaningful, appropriate, and targeted ways.”
Stolle will join the Board of Directors and add his technology leadership and business vision to People Pattern. Mohr Davidow Ventures invests in early stage technology startups that redefine or create large new markets, with notable investments such as Rocket Fuel and Rally Software, which successfully completed their IPOs in 2013, in addition to Audience Science, Shutterfly and Visible Measures.
People Pattern co-founder and CEO, Cho, was an early player in social media management and analytics when he founded Spredfast. Co-founder and Chief Scientist, Professor Baldridge, is a specialist in computational linguistics and machine learning as an Associate Professor in the Department of Linguistics at University of Texas. Together, the People Pattern leadership, data science and engineering teams have deep social business and platform development experience and are now applying their knowledge and skills to advanced analytics and data-driven marketing.
“The social ecosystem is noisier and riddled with extraordinary claims in today’s environment, but as Carl Sagan said ‘extraordinary claims require extraordinary evidence’,” said Ken Cho, co-founder, People Pattern. “Social marketing must be about value, and able to be clearly measured – it must evolve into data-driven marketing, especially as brands continue the shift from mass marketing to direct marketing. This is where People Pattern comes in, with our data science team and scientific method-based approach to audience identification and engagement.”
People Pattern applies machine learning for natural language tasks and has built user classification algorithms to not only identify, but also activate high value personas. The platform can work with any data type, pulling in data from social networks and leveraging clients’ enterprise data such as CRM or transaction histories. The platform not only works across a variety of social networks, but also across countries and in multiple languages. The resulting combined intelligence creates a robust view of audiences and classifies them into actionable segments based on interests. Classifiers include: location, age, race, gender, ethnicity, interest, sentiment, and influence.
Several Fortune 500 companies and top agencies have been working with the People Pattern platform, now in beta, for some months. The product will go live soon and those interested can email [email protected].
About People Pattern
People Pattern has built an advanced analytics marketing platform for audience segmentation, user classification, and audience activation. The data science-based SaaS platform automates the collection and analysis of audience data, pulling information from enterprise sources, such as CRM or loyalty databases, as well as social streams. With People Pattern, marketers gain real-time information to better understand, target and engage active and prospective customers. People Pattern is founded by Ken Cho, who previously founded Spredfast, and Professor Jason Baldridge, associate professor of Computational Linguistics at University of Texas at Austin. The company is funded by Mohr Davidow Ventures. For more see http://www.peoplepattern.com.
About Mohr Davidow Ventures
For 30 years the Mohr Davidow Ventures (MDV) team has invested in early stage technology-based startups that redefine or create large new markets. The firm partners with exceptional entrepreneurs to build companies where big data, applied analytics, and the reach and power of the web/mobile cloud can be leveraged to drive emerging opportunities in verticals ranging from social commerce to finance to online marketing and consumer-driven healthcare. Leading companies funded by MDV include: Agile; Brocade; Coupa; Genomatica; HealthTap; Hotchalk; Infusionsoft; Kabbage; nLight; ONI Systems; Proofpoint; Rally Software; Rambus; Retention Science; Rocket Fuel; Ruby Ribbon; Shutterfly; Ticketfly; Visible Measures; and Zuckerberg Media. For more information, visit http://www.mdv.com
Laura Beck, People Pattern, http://www.peoplepattern.com, +1 (512) 786-1098, [email protected]
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