Reduce Data secures $500K in angel funding
US-based Reduce Data has secured around $500,000 in seed funding from US-based private investors. The company also launched its advertising analytics and optimisation platform in India in beta mode.
Founded in October 2012 by Asif Ali, Reduce Data claims to help identify wastage in media spends using analytics. It also automates optimisation across multiple channels like mobile, online and social. Ali is also known for his earlier venture called mobile ad platform ZestAdz, founded along with Nat D Natraj and Terry Uppal in 2007. ZestAdz was acquired by online ad network and audience measurement provider Komli Media India Pvt Ltd in 2011. ZestAdz offered targeted mobile advertising to clients in India, the US, the European Union, Indonesia and other parts of South-east Asia. It also offered ads on all mobile platforms including iPhone, Android and J2ME.
Reduce Data aims to address a $340 million revenue market in 2013 for affordable tools. Reduce Data will compete with the likes of Google Analytics, Adobe Marketing Cloud and Webtrends. It claims to have "actionable insights, recommendations and optimisation that helps cut spends by 30 per cent. Along with actionable insights and recommendations".
Reduce Data will also automatically optimise ad campaigns, said an official statement.
(Edited by Prem Udayabhanu)