Analytics can help make sense of data for a business – but how does an enterprise find the most applicable information for its business? What about data emersed in the “deep web”?
Udu, funding so far by $1 million from angel investors, says it offers a solution to making sense of the data quagmire.
“We not only identify relevant data but add structure to it so that it can be used with any enterprise analytics tool,” says CEO and CTO Rett Crocker.
“In short, we find the data—wherever it may be—that has a material impact on an enterprise and deliver it such that it can immediately be put to use.”
The secret sauce for the Raleigh-based startup is a “unique and patented technical approach that enables us to tap into not only the open web (everything you can find using a search engine), but the deep web (things that don’t show up in search results because they’re password-protected, behind a firewall, or accessible via an application programming.”
Crocker brings extensive programming knowledge to the startup. He has designed and developed over 100 games for mobile devices, personal computers, and video game consoles while creating mult-iuser content and game engines along with multiple programming languages.
He has experienced help onboard, such as Frank Boosman as vice president of product marketing. Boosman was COO and co-founder of the simulation training firm 3Dsolve, which was sold to Lockheed Martin in 2007.
Udu will be displaying its technology at the CED Tech Venture Conference on Sept. 19-20 in Raleigh.
This profile is just one in a series of Tech Venture presenters that are written, edited and published by WRAL TechWire in partnership with the CED.
Profile: udu, Inc.
- Website: http://www.udu.co
- Email contact: firstname.lastname@example.org
- Address:1330 Saint Mary’s Street, Suite 350, Raleigh, NC 27605
- CEO: Rett Crocker, CEO / CTO
- How many employees? udu has fewer than 10 employees and is growing.
Link to CED Tech Venture Company Profile: https://cednc.org/company-profile/udu
- What is the focus of your business?
We help our customers use data to discover or unlock opportunities to grow their revenue or increase their profitability. To date, our primary customer applications have been in the defense, finance, and real estate markets.
- What is the top pain point/business application you are seeking to address?
The total volume of data on the Internet is growing at an exponential rate, but it’s hard for most businesses to properly utilize the vast majority of it. IDC has predicted that the data comprising the Internet would grow 10-fold between 2013-2020, to 44 trillion gigabytes, but that only 3% of this data would be properly structured for analysis and that only a fraction of that would actually be analyzed.
We not only identify relevant data but add structure to it so that it can be used with any enterprise analytics tool.
In short, we find the data—wherever it may be—that has a material impact on an enterprise and deliver it such that it can immediately be put to use.
- What makes it unique?
Udu uses a unique and patented technical approach that enables us to tap into not only the open web (everything you can find using a search engine), but the deep web (things that don’t show up in search results because they’re password-protected, behind a firewall, or accessible via an application programming.
- Why should investors be interested in your firm?
The core technology platform provides three attributes that are extremely attractive to investors:
i) the ability to customize and deploy quickly in the customer setting,
ii) the ability to scale rapidly with minimal capital investment, and
iii) the ability to leverage a network effect that makes the platform more efficient and powerful as additional customers and data sources are added. The net of this is that we have a compelling DaaS economic model with a high customer lifetime value.
- How are you financed at this point?
We have raised over $1 million to date via angel investors.