{"id":41955,"date":"2023-10-20T15:17:41","date_gmt":"2023-10-20T15:17:41","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/australian-founded-startup-nugit-raises-6-8-million-from-sequoia-india-to-accelerate-global-growth-startupsmart\/"},"modified":"2023-10-20T15:17:41","modified_gmt":"2023-10-20T15:17:41","slug":"australian-founded-startup-nugit-raises-6-8-million-from-sequoia-india-to-accelerate-global-growth-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/australian-founded-startup-nugit-raises-6-8-million-from-sequoia-india-to-accelerate-global-growth-startupsmart\/","title":{"rendered":"Australian-founded startup Nugit raises $6.8 million from Sequoia India to accelerate global growth &#8211; StartupSmart"},"content":{"rendered":"<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"332\" itemprop=\"image\" class=\"entry-thumb\" src=\"\/wp-content\/uploads\/2016\/10\/david-sanderson-640x332.jpg\" alt=\"\" title=\"david sanderson\"><\/div>\n<p>An Australian-founder artificial intelligence and data startup has raised $6.8 million ($US5.2 million) from one of the world\u2019s biggest VC firms to further develop its technology and accelerate global growth.<\/p>\n<p>Nugit provides an automated data extraction platform for marketers to make data-driven decisions, combining artificial intelligence, natural language generation and visual design to improve efficiency.<\/p>\n<p>The end result is to turn \u201cfragmented marketing data into decision-making tools\u201d.<\/p>\n<p>Founded in 2013 by Australian entrepreneur David Sanderson, the Singapore-based startup now manages nearly 150,000 ad accounts for over 500 brands in 34 countries, with clients including Facebook and Johnson &amp; Johnson.<\/p>\n<\/p>\n<p>The cash injection in Nugit comes from Sequoia India and will be used to further develop the tech platform and expand operations in existing markets, Sanderson says.<\/p>\n<p>\u201cSequoia India\u2019s investment will help us accelerate our R&amp;D and push the boundaries in these areas,\u201d Sanderson says.<\/p>\n<p>The Nugit platform extracts marketing data automatically to produce decision-ready reports, helping to greatly reduce reporting time for clients, Sanderson says.<\/p>\n<p>\u201cMany of the legacy systems that are being used to manage marketing data are slow, over-priced and take months to implement,\u201d he says.<\/p>\n<p>\u201cWe believe analytics can be much leaner and more intelligent, by leveraging technologies such as AI and machine learning.\u201d<\/p>\n<p>The funding round follows an earlier seed round led by 500 Startups and The Hub Singapore.<\/p>\n<p>Sequoia investment advisor Pieter Kemps says the simplicity of the Nugit platform and the lucrative market it operates in led the decision to invest.<\/p>\n<p>\u201cWe were thrilled to see the world-class engineering team and the fast adoption from enterprises, publishers and agencies,\u201d Kemps says.<\/p>\n<p>\u201cIt has been impressive to see the intelligence of the Nugit platform, and how it offers enhanced efficiency and clarity to marketers.<\/p>\n<p>\u201cNugit is part of a trend where global SaaS businesses are being built from Asia.\u201d<\/p>\n<p><em>Follow StartupSmart on<\/em>&nbsp;<em>Facebook,<\/em>&nbsp;<em>Twitter,&nbsp;LinkedIn.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Australian-founder artificial intelligence and data startup has raised $6.8 million ($US5.2 million) from one of the world\u2019s biggest VC<\/p>\n","protected":false},"author":2,"featured_media":60606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41955"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=41955"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60606"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=41955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=41955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=41955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}