Breakout Startups PRO #10- Outlier
The Startup building the World’s First truly Automated Decision Analysis Platform
Hi,
Welcome to the FREE Edition of Breakout Startups. Today, we are talking about Outlier, the startup helping businesses uncover insights in unexpected data behavior.
About
Talking about his motivation behind starting Outlier, Sean Byrnes, Founder, and CEO, says
Outlier arose from a simple question, one that has stuck with me for many years. At my last company, Flurry, we were lucky to work with tens of thousands of companies around the world as the largest mobile application analytics platform. I traveled many places and spoke to companies large and small, in every industry, about how to use data to make decisions. Over the time I kept getting the same question, over and over again.
“What should I be looking for?”
……. You have data, you should be looking for answers! But as I heard the question more and more, I realized it was very profound. These companies, many very sophisticated, did not know what to look for in their data. Sure, they knew their KPIs like revenue and retention, but what about the hidden opportunities and hidden problems in their data? They didn’t even know what questions to ask to get started.
This question is even more pressing today as businesses have more data at their fingertips than ever before. The rise of the cloud and progression of big data technology means that companies are gathering mountains of data every day about every aspect of their business. That data doesn’t just live in a single system anymore — it lives in your analytics tools, your CRM, your customer support system, payments system, databases and data warehouses. In fact, every one of the dozens of systems you use to run your business has become a fountain of valuable data.
Outlier was founded on the idea that a new approach is needed for business intelligence. The product looks through the piles of data teams gather in whatever system or tool they use, and tells them what they should be looking for.
It provides users only the most important insights every day and guides them to the answers to the most pressing questions.
Product
- A Sample Insight Delivered by Outlier
Outlier finds insights across all of your data, helping identify relationships that are impossible to find manually. The business analysis platform uncovers unexpected patterns and relationships using advanced artificial intelligence and machine learning algorithms.
The tool integrates with a variety of tools used by an organization within minutes. Some of the products it currently integrates with👇
Team
Sean Byrnes: Co-Founder & CEO, Outlier. Previously: Founded Flurry(acquired by Yahoo in 2014), the largest mobile analytics company in the world.
Mike Kim: Co-Founder & CTO, Outlier. Previously: Google, Aardvark (acquired by Google), and AltSchool.
Traction
The tool started in a competitive market. So far, the startup has helped its customers detect fraud to helping them refine their social media marketing campaigns.
You can learn more about the Customers of Outlier and how they are using the product below 👇
Customers Archive - Outlier AI, Inc.
Javascript is required for some features of this site. Please enable Javascript in your browser to ensure you have the…outlier.ai
The company was also named a Cool Vendor in Analytics by Gartner in 2018.
The company has experienced rapid growth since launching in 2017 as more businesses recognize the limitations of traditional business intelligence tools. In the recent announcement, the company has grown more than 400%.
In 2019, the tool analyzed more than four billion metrics and helped its customers discover critical insights, hidden in the tons of volumes of data.
In the funding announcement, the company mentioned-
“…..while the company recognizes opportunities for ABA across numerous industries, it is strongly positioned for growth within consumer-packaged goods, e-commerce, retail, hospitality, life sciences and financial services.”
Competition
The company is in direct and indirect competition with a lot of players. Some of them are:-
AnswerRocket
DataRobot
DataStories Platform
dotData Enterprise
H2O Driverless AI
IBM Watson Studio
Power BI
Oracle Analytics Cloud
SAP Analytics Cloud
Sisense
ThoughtSpot
Funding
Outlier has raised a total of $30.5M in funding over 3 rounds.
The company’s latest fundraise was a Series B of $22M led by Emergence in January 2020.
Prior to this, Outlier had raised a Series A of $6.2M led by Ridge Ventures.
The company launched in 2015 but raised a Seed Round of $2.2M only in 2017.
Jobs at Outlier
Sr Software Engineer – Integrations[Remote]
Follow us on Twitter @BreakoutStartup