Venture Atlanta 2011 Startups – Day 1

Venture Atlanta had a great event today showcasing a number of promising startups in the area. Here are my notes on the companies:

OrcaTec

  • Avg F500 spends $500M/yr on legal expenses
  • Document decisioning suite
  • Categorize, search, and cluster data
  • Predictive coding of documents using machine learning
  • Predictive analytics of unstructured data
  • Raising $5M for sales, marketing, and additional development

Abundant Closet

  • Changing the landscape of retail
  • Drive revenue for retailers by allowing consumers to bring their closets into every purchase decision
  • 150,000 US retailers with $200B in revenue
  • $60B to be purchased online in the next few years
  • Less than 3% of visitors to an ecommerce site results in a sale
  • FashionAde.com – live lab launched 9/2010
  • Three customers are embedding the product this quarter
  • Raising $1M to build out sales team

Jigsaw Meeting

  • Platform for change and learning in education and corporate training environments
  • 44M students will move to online classes by 2015
  • Education is $853.6B market
  • Corporate training is $72.7B market
  • Virtual classroom solution
  • Raising $900k

Social Fortress

  • Safeguards data regardless of where it resides
  • Features: At-rest encryption and behavioral monitoring
  • Enterprises are more reliant on cloud services and mobile devices
  • Raising money to scale sales, operations, and engineering
  • Raised money from ISS founder

Proximus Mobility

  • Mobile proximity-based advertising
  • Example walking into a casino and getting a text message offering a coupon
  • Raised $2.25M in mid-2011
  • Small device that plugs in and then talks to SaaS app via 3g for campaign rules
  • Future integration with third parties like FourSquare and Facebook
  • No app to download — based on phone WiFi or Bluetooth connection plus text messaging
  • Raising $3M

ShapeStart

  • Laser Fit Hearing
  • In-ear scanning for hearing aids
  • 60,000 clinicians with 15M impressions/year
  • Capture a digital 3d representation of ear
  • Much better patient experience
  • Raised $1.25M
  • Raising $1M for productization

Soneter

  • Build meters that give real-time feedback on water usage
  • Measure water footprint like carbon footprint
  • 22 million unmetered apartments
  • Device that clamps around existing pipes
  • Full solution including consumer and enterprise monitoring solution
  • Focus on multi-family residential real estate market
  • Product enabled service company
  • Raising $650k

Soket

  • Social media marketing for local business
  • 70% of revenue for restaurants come from returning customers
  • 86% of SMB have a website
  • Single place for local businesses to manage content and push it to places like Yelp, OpenTable, FourSquare, Facebook, etc
  • Raised $460k
  • Raising $500k

IdeaString

  • Harness the thinking power of groups and help companies manage, socialize, and evaluate that information
  • Average F1000 company spends over $100M/yr capturing ideas
  • SaaS product for idea generation with enterprise tools to facilitate break-through thinking
  • Raising money for sales and marketing as well as product development

Dinova

  • Aggregate corporate purchases to get cash back for customers and deliver more business to restaurants, airlines, and hotels
  • Negotiates discount with restaurants and get’s a piece of the discount as business model
  • Goal is to get as many of corporate customers to use the partner restaurants
  • Opportunities: data mining, proprietary market analytics, mobile apps, social media integration
  • Raised $2.9M
  • Raising $3M

NextInput

  • Better, cheaper, faster, and less power
  • Force sensitive instead of capacitive sensitive
  • Provisional patent
  • Raised $250k
  • Launched 1st product using the technology
  • Raising $1M

rappidApp

  • Web-based app that generates iPhone app
  • Live apps on the AppStore from the app
  • $4500/year per customer
  • Connects many of the smart phone functions
  • Raising $500k

PinDrop

  • Breakthrough caller ID solution that gives each call a fingerprint
  • Core product is anti-fraud call analyzer deployed via cloud or appliance
  • Stop phone fraud
  • Focused on big banks
  • Raising seed round

Verdeeco

  • Data explosion from electrical meters – checked 12 times/year to 35,000/year
  • Data visualization, analytics, and applications platform for utilities
  • Huge explosion of data that needs to be analyzed
  • Raised $800k from ATA
  • Raising $2M

TripLingo

  • Foreign language learning is a $1B market
  • Trends in cultural travel and smartphone penetration
  • Increase in laziness in travelers
  • Customized phrase list for travelers
  • Slang slider shows different ways to say something
  • Currently offer 12 languages
  • $10 per language per country
  • 36,000 downloads already

LIFT

  • Vision of a personalized retail experience
  • Live on 120 check-out counters
  • Has recommended 800k items with 40k upsells
  • 3% increase in same store sales
  • Loyalty programs on check-out
  • Approx $300/mo per store
  • Raising $1M

Merlin Mobility

  • 82% struggle to make mental jump from instructions to physical object in front of them
  • Augmented reality to help with learning and instructions (think yellow overlays during football games)
  • Targeting chief learning and information officers as well as elearning companies
  • Raising $1M

CodeGuard

  • Website backup service for small businesses
  • Time machine for the site
  • Alerts whenever your site changes
  • Shared hosting market growing from $4.2B to $5.8B

The startups today set the bar high and I’m looking forward to the event tomorrow.

Read about Day 2 of the event.

4 thoughts on “Venture Atlanta 2011 Startups – Day 1

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