Zirra raises $1.6 million to analyze startups on demand

Israel’s Zirra has raised $1.6 million for its mission of analyzing startups.

The Tel Aviv-based company has developed artificial intelligence technology to evaluate startups to find out how much they’re worth. Investors include former Microsoft executives Moshe Lichtman and Soma Somasegar.

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Zirra provides insights on startups, including estimated valuations, lists of competitors, estimated time to exit, risk and success factors, and a rating of the overall team, product, momentum, and execution. The company said its own valuation is $6 million.

Zirra’s analysis is performed using aggregated data and proprietary AI-based analysis of as many as 80 parameters, such as quality of the team, media momentum, and gaps between financial rounds. The AI technology is then matched and calibrated with qualitative insights taken from a network of experts, who also provide Zirra with inside information about the market.

The network consists of experts in multiple areas of the tech market, such as enterprise software, cyber security, Big Data, cloud, robotics, automotive, ad tech, social networks, and biomed. In return for their contribution, Zirra contributes to the charity of their choice.

Based on the technology, Zirra has just launched two products: Startup Spotlight Report for investors and entrepreneurs, and Startup Spotlight Report for job seekers. Investors read these reports to get a better knowledge of the deal flow, to properly prepare for meetings with startups, or during a due diligence process. Entrepreneurs can use it to better know their competitors and to get a stronger knowledge of the market they operate in.

Job seekers can use it to acquire deeper knowledge about the companies they are being interviewed by before making important career decisions. Zirra also offers deeper reports, which include critical development paths, cite search engine and traffic trends, and highlight business opportunities. And soon, Zirra will launch a chatbot that will disclose bits of information on demand.

“Until we started offering our products, investors and entrepreneurs were unable to analyze companies and competition systematically, due to the fact that  traditional offerings demand excessive time, money, and expertise,” said Moshit Yaffe, Zirra’s CEO, in a statement. “Even if an investment house had ten dedicated analysts, those analysts cannot cover an entire market with its particular subtleties, and, likewise, no CMO can find the time to compose an organized, objective report about the competitive landscape within which his company operates. Our solutions are tailor-made for scenarios such as these and are offered for a significantly lower price, compared to alternatives solutions from standard consulting firms, research companies, and market analysts.”

Other investors include AOL’s investment fund, Dan Galai, Singulariteam Investment Fund, Ohad Shaked, Venture Club Ru, and Michael Dolinsky (cofounder of Aorato, which was sold to Microsoft). Zirra’s original seed round investors all joined in this round, as well.

Zirra was founded in 2014 by Yaffe and Aner Ravon (CPO), and it serves several dozens of institutional clients from Israel and the United States. The company recently joined Nautilus, AOL’s startup platform in Tel Aviv, and it employs around 15 people. To date, the company has raised $2.5 milllion.

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Here’s an example of Zirra’s analysis of a startup called Graphiq. It also has an analysis of Snapchat’s value.