The data analytics market is expected to surpass $42 billion by 2018, at a rate almost six times that of the overall IT market. PropheSee, a Delhi-based digital analytics startup is also geared up to address the issue centered on the access to analytics.
Founded in November 2014 by three Co-founders, Ishaan Sethi, Harshil Gurha and Jitesh Luthra, PropheSee is a big data Software as a Service (SaaS) platform dedicated towards the marketing analytics space. The platform tracks a brand and its competitors across digital channels, runs analytics and reports and allows brands to take data-driven decisions.
It empowers brands with data-driven insights that allow managers to take the most informed decisions, compare and analyze digital campaigns and execute directly from the platform itself. On ground, PropheSee is used by C level decision makers, brand and marketing managers, social media teams and digital agencies.
What does it offer to its users?
In the progressive data analytics arena, brands are using multiple platforms to manage their digital presence that often lead to problems around data reconciliation and a significant budget and time waste. As a consolidated platform, PropheSee leads to increased capital efficiency. Additionally, by tracking end-to-end digital data, brands can take a much more cohesive approach towards digital platform as decision makers are able to analyze each channel in isolation as well as any effects a channel may have on another.
PropheSee has provided analytics for several well-known brands and political parties in India and abroad, such as Faith Connexion, Rock N Shop, NDTV’s Indian Roots, Miss Malini and PVR. Additionally, the tool correctly predicted the outcome of the 2015 Delhi Elections and the 2015 Academy Awards using their digital data sets.
The platform is targeted towards brands investing in the digital arena that includes but is not limited to e-commerce, fashion, publishers, app based services and media and entertainment firms.
PropheSee’s mission is to develop into a new “Salesforce” for brands investing in the digital space by providing them with an efficient and affordable tool to track, manage and execute their digital strategies. The platform does this through, comprehensive tracking across digital channels such as social media (Facebook, Twitter and Instagram) web analytics and several more.
Recently, startup has raised Rs 3.3 crore in angel funding through a co-investment from the Indian Angel Network (IAN) and Stanford Angels and Entrepreneurs India (SA&E India). Ajay Lavakare led the round on behalf of IAN and SA&E India. Further, he will be joining the Board of Directors along with PropheSee’s advisor and mentor, Sujal Shah (CXO/Investor, MissMalini Media and MD Bandra Road Advisory) to help drive growth and scale over the coming months. The startup plans to utilize funding to scale technology and to build core talent.
Commenting on the investment, Ajay Lavakare said, “PropheSee is a startup that distinguishes itself from other SaaS companies by offering a comprehensive solution to brands to manage their digital presence across multiple platforms. We are also very impressed with the caliber of the founding team. With its affordable cost to small and medium businesses, and its focus on empowering companies to understand and act upon their social/digital performance, PropheSee has the potential to scale rapidly.”
Growth and Expansion Plans
For startup, the key focus areas over the next six months include the development of more industry-specific analytics and modules, investing in predictive algorithms and data visualization methods to facilitate better utility and decision making by management, from their data and insights.
PropheSee also plans to build further audience listening and community management capabilities in addition to testing new methods to measure consumer engagement, intent and other behaviors.
Moreover, platform will be tracking more than 40 channels in the six months with new developments in their analytics and reporting modules alongside content discovery, execution and monitoring features.
“Our key focus is to deliver actionable insights using big data technologies to run pioneering analytics. All companies should have access to digestible, actionable insights from their social and digital presence. While the primary focus, thus has been on descriptive analytics with the goal to help brands take control of their data, the platform will soon be capable of running predictive analytics to model consumer behavior (among other trends) based on digital data. The next six months are extremely exciting for us as we take this platform live globally,” said Ishaan Sethi, Co-founder and CEO, PropheSee.