digiMine to ‘slurp up’ data for customers

Kirkland, Wash., Sept. 15 (LocalBusiness.com) – DigiMine Inc., a data mining and warehousing company, is ready to start shoveling through corporate databases, with its launch set for next week.

The company will offer “DigiMine Services,” as an application service provider beginning Monday. DigiMine’s software is designed to help businesses use their databases more effectively.

“We report the kind of information or data that can help a customer better understand or drive their business,” said Nick Besbeas, co-founder and vice president of sales and marketing for DigiMine.

By using data mining technology, which involves the application of algorithms to uncover relationships between information or data, DigiMine’s customers can track information on the number of visitors of a specific Website, including browse vs. buy rates and site registration rates. In other words, DigiMine uncovers the who, what and why of Website visitors.

Key to the company’s ASP service is an additional tool called the Data Slurper. The “Slurper”  captures the data, compresses and encrypts it, and then stores it in a data warehouse. Later, customers can access their information via a Web browser, entering a password and user name to view their data in a secure site.

“We have an operations team that manages and processes that data for customer in the morning,” said Besbeas. “We collect the data at off hours, in the middle of the night usually, and by 6:00 am processing is finished and reports are posted.

Price is based on volume of data. It stars out at $5,000 a month for the service, but for sites sending in data amount of 10, 20, even 30 gigabytes, the price can reach as high as $15,000.

Besbease said that one of their largest customer, Internet Telephony site, Dialpad.com, sends in 20 gigabytes of data everyday.

Other customers include Microsoft’s bCentral, Evite.com, and Allrecipes.com.

Earlier this week, the company closed a $20 million in its Series B round of funding led by Silicon Valley venture capital firm, Mayfield Fund.

As part of the deal, Yogen Dalal, Mayfield managing general partner, will take a seat on DigiMine’s board of directors, and Dana ettle, Mayfield venture partner, will join the advisory board.

In June, DigiMine (www.digiMine.com) closed on a $2 million bridge round for investment by employees and key strategic individuals. The company has raised close to $25 million in the six months it began operations.

The most recent round of funding will go towards building out the organization, and to invest in infrastructure and business operations to support customers, the company said.

Co-founder of Kirkland-based DigiMine, Usama Fayyad, Nick Besbeas and Bassel Ojjeh, were all previously with Microsoft. The company employs a staff of 65.

By: Rolf Boone

Source: Local Business


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