Dublin-based Datahug completes €2.5m financing
BRIEFS:Automated business networking company Datahug has completed €2.5 million Series A financing through European venture capital firm DFJ Esprit. The funding follows Datahug’s expansion into the US.
Founded in 2010, Dublin-based Datahug helps firms drive sales and business development by systematically pinpointing who knows who across a company’s network of connections, allowing the business to tap into previously unknown business relationships, which in turn can help shorten the sales cycle.
According to Connor Murphy, CEO of Datahug: “In an average company we find around 400 contacts per person that aren’t captured in any CRM system or database. Through Datahug’s technology we enable businesses to automatically tap into their existing relationship network for business development.”
It works by indexing existing communication logs – such as emails, contacts and calendar data – to create an enterprise-wide picture of who knows who. Datahug then attributes a score to show how well they know them. Because the system works with existing information it requires no data entry to capture the relationships.
The deal is DFJ Esprit’s fourth in Ireland this year, following investments in Imagine Communications, Mobile Travel Technologies, and the winner of The Irish Times Digital Challenge, GetBulb.
DFJ Esprit has over $1.1 billion of funds under management, chiefly focused on European high growth companies. DFJ Esprit was a key investor in LOVEFiLM, which was acquired by Amazon.
Gathering of senior tech executives set for Cork
The annual gathering of senior technology executives by the Irish Technology and Leadership Group (ITLG) will convene in Cork in January. Unlike previous events more focused on bringing Silicon Valley executives to Ireland, the upcoming event is taking a more global perspective, with tech leaders from Europe, China, Russia and India joining the US contingent. Speakers include Liam Casey of PCH, James Herlihy, MD Deutsche Bank, Sean O’Donoghue, CTO Madison Square Garden, Rory McInerney, Intel and Una Fox, VP Disney among others.
Part of the Cork-based event being held on January 21st and 22nd will include “fast pitch” sessions for Irish entrepreneurs and business start-ups, along with a technology showcase. Hosted in venues across the city, the annual ITLG event will be led by former Intel chairman and CEO Craig Barrett, and is part of the Gathering 2013 events.
John Hartnett, chief executive of ITLG, said: “Those interested in pitching for investment from the global business leaders and investors should embrace the opportunity of the ITLG Silicon Valley comes to Ireland event and get in touch with us immediately.”
Stamp-sized camera heralds new trend of logging daily life
At first glance, the little Swedish gadget looks like a badge. But Memoto is far more than that – it’s a potentially groundbreaking device straight out of a James Bond film, and one which augurs the start of a new trend of “life-logging”.
The postage-stamp sized device, which clips to your lapel or a chain, is a 5mp camera that automatically takes a photograph every 30 seconds, recording the location of every image with an inbuilt GPS unit. Connecting it to your computer via USB, the images are transferred to a Memoto app and web service, which arranges the images on a timeline. Wearing it around during the day and night, you effortlessly build up a visual record of your life.
Such meticulous recording of your daily routine might strike many as an unusual desire, but it’s the next obvious step in the rise of life-logging. Already, a number of devices, such as the Fitbit and Nike Fuel Band, offer users the opportunity to record your steps and sleeping patterns – the era of the “quantified self” is almost upon us. But is there demand for such a device?
The success of the company’s Kickstarter crowdfunding campaign, launched on Tuesday, suggests yes – it achieved its funding goal of $50,000 in five hours and had reached $200,000 in a day. “Our goal is to establish Memoto as the ultimate way to document meaningful moments in your own life history,” says Memoto chief executive Martin Kallstrom.