Time is money, right? Instead of spending time compiling and analyzing data, employees and owners should be using the data to be proactive and enhance the business. Unsupervised is helping businesses use their time more effectively.
The Boulder-based company automatically compiles and analyzes data to help businesses better understand their biggest problems and untapped opportunities, including improving customer satisfaction and generating new streams of revenue.
“In practice, what happens is, somebody who’s really trying to use data to improve their business is spending 90 percent of their time [compiling and analyzing data]. Then they’re spending 10 percent of their time taking what came out of that and saying, ‘How do I go act on this,’” CEO and co-founder Noah Horton told Built In. “And that’s what we’re really changing. We’re making it so that people spend 10 percent of their time finding stuff in the data, and 90 percent of their time on ‘what do I do about this?’ And it turns out that that is what people are incredibly good at.”
Unsupervised closed a $35 million Series B round on Friday. The round was funded by Cathay Innovation, SignalFire, NextGen Venture Partners, Eniac Ventures, Elad Gil and Coatue.
The funds will be used to accelerate Unsupervised’s market growth, innovate the company’s platform and enhance product offers. Horton said the whole business has to grow to scale.
Unsupervised will be expanding its engineering team “substantially,” Horton said. The company also plans to hire 50 people in the next year, including sales, marketing, product development, customer success and people operations. Unsupervised is currently hiring a software engineer, sales representative and sales engineer.
Boulder native Horton has a background in math and computer science. Prior to Unsupervised, he co-founded Silicon Valley startup Involver, then worked for Oracle. At Involver, he noticed his engineering team was being poached by businesses like Square. He knew he didn’t want that to happen with his next startup so he left Silicon Valley and headed back to Boulder.
“In Colorado, we are the Square here,” he said. “We are the company that everybody wants to come join. And we can pull from the big companies. We can pull from more traditional industries. We can pull people geographically.”
Unsupervised has raised more than $55 million since launching in 2017 and has 75 employees. The company currently works with dozens of companies ranging from the Fortune 50 to the Fortune 5000. Unsupervised was also included in Built In’s 21 Colorado Companies to Watch in 2021.
