With the launch of Data Elite, another investment hat has been thrown into the Big Data ring. However, Data Elite is not the first venture fund to specialize in Big Data.
“We are seeing an accelerated rate of innovation in big data, with the newest generation of entrepreneurs re-imagining ways to extract the most value out of Big Data and fundamentally change the way we work and process information,” said Ping Li, Partner, Accel Partners. “In addition to the capital support from Big Data Fund 2, we continue to deepen the expertise within our network with thought leaders from related fields in data driven enterprise software applications.”
The additional capital will support entrepreneurs who are using the technology platforms that were built in the first wave of big data startups to create Data Driven Software (DDS) that will automatically harness data from a variety of sources, analyze it and present valuable real-time insights to the business end user, including, but not limited to HR recruiters, sales representatives, IT managers, and business analysts.
Another group, Data Collective, finished raising its second fund toward the end of 2012. According to their press release, Data Collective believes that “Big Data, like the PC revolution of the 80s, the emergence of the Internet in the 90s, and Web 2.0 in the 2000s, represents a several hundred billion dollar wealth creation opportunity. The companies that solve these problems, from infrastructure providers at the bottom to corporate customers at the top of the stack, will enjoy huge competitive advantage over the next ten years.”
Data Elite is accepting applications until December 15 and is particularly looking for entrepreneurs with at least five years’ experience in the field. The program will start in January 2014.
Mind commerce anticipates the Big Data driven telecom analytics market to grow at a CAGR of nearly 50% between 2014 and 2019. By the end of 2019, the market will eventually account for $5.4 Billion in annual revenue.
Big Data and Telecom Analytics Market: Business Case, Market Analysis & Forecasts 2014 – 2019 provides an in-depth assessment of the global Big Data and telecom analytics markets, including a study of the business case, application use cases, vendor landscape, value chain analysis, case studies and a quantitative assessment of the industry from 2013 to 2019.
By: Brenda Spandrio, Marketing Manager