Israeli Startup announced it has completed a $ 16 million capital raising

Noogata, a company that has developed an automated data analysis system, announced today (Tuesday) that it has completed a $ 16 million capital raising. The round was led by Allon Ventures and Eight Roads, bringing the total capital raised by the company since its inception in 2019 to $ 28 million.
Nougat has developed a system that allows you to enter data sets of any type and source, and analyze them according to your business need without writing code. The data analysis market has two approaches: The first involves the development of an internal product in the company, which consumes a lot of resources and has high financial costs. The second approach is to use a variety of different tools according to the business need and source of the data.
"If a company uses Google Analytics to analyze information from marketing channels, then to analyze sales data from Amazon it will have to use a different tool," says Assaf Egozi, founder and CEO of Nogata. We have ready-to-use 'blocks' that analyze each data as needed and the database from which the data was generated. It's basically like Lego of artificial intelligence - each cube has a different use. "
The company's business model is the payment of an annual subscription to each customer, depending on the amount of categories the customer uses - such as ecommerce, location-based analysis and more.
Nougat was founded by Egozi together with Oren Raboi (VP of Technology). Egozi has a background in the business world. .
Also has a lot of experience in setting up start-ups. In 2010, he founded a marketing startup, Totango, which he left in 2018. The two decided in 2019 to put together their joint experience - and set up Nougat together. "At first we worked without raising money. We let companies enjoy the initial product as a service on which we charged initial money. After we completed initial development in 2020, we raised our $ 12 million lime round from the Tim 8 funds, and Skylake Capital and entered the market."
Nougat currently employs about 40 people, most of them in Tel Aviv. Its clients include companies such as Colgate, PepsiCo, Palmolive and Amdezign.