|[December 18, 2012]
Nara Picks up $3 Million in New Funding to Support Its Rapid Rate of Expansion
CAMBRIDGE, Mass. --(Business Wire)--
Nara Logics Inc., a company that solves the problem of Web search by
crafting a more personalized Web, today announced an additional $3
million in funding bringing its total funding this year to $7 million.
Account Management, LLC (AMC), a 50-year-old investment advisor in
Boston, led this recent round as well as the company's initial round of
funding. The company is using the new funds to extend the Nara platform
for both Web and Mobile and to continue hiring stellar talent. Nara also
added several new features to its recently launched Nara Mobile app,
available for free at App
Play and Nara Web available at nara.me.
"We feel fortunate to participate in the coming together of artificial
intelligence and neural networks as the next generation of Internet
search engines," said Peter de Roetth, co-founder of AMC. "Nara
Logics has opened new vistas that will put Big Data at the beck and call
of consumers and businesses, as we now begin to transform searching into
Research shows that the average American will spend nearly two decades
of their waking life tangled in the World Wide Web. And this problem is
"Nara's vision is to build a more personal, actionable and liberating
Web to achieve a life well found," said Thomas Copeman, chief executive
officer and founder of Nara. "We really appreciate that our investors
are confident in our vision and accomplishments. This additional funding
will accelerate our North Aerican footprint, allow us to grow into new
markets, and extend into other consumer categories. We will also use
these funds to further develop and scale the Nara Neural Network."
Nara Funding and Momentum
Peter de Roetth and other investors have contributed an additional $3
million, growing Nara's total funding amount in 2012 to $7 million. Nara
is a collective of neuroscientists from MIT (News - Alert), artists, computer
scientists, astrophysicists, business leaders and tech industry
veterans. In the past year, Nara nearly tripled the number of its
Nara's innovative technology platform currently analyzes over 250,000
restaurants, coffee shops, bars and cafes in 25 top cities in the U.S.
and Canada. The Nara Neural Network is comprised of many millions of
connections among these venues. With its brain-like algorithm, Nara is
able to simplify this complex map into personalized recommendations.
On November 13, 2012, Nara announced its new, free Nara Mobile app for
iPhone and Android (News - Alert) that minimizes time searching and helps people
discover new dining experiences that are tailored to their tastes.
Through active use of the platform, Nara's app learns a person's
restaurant preferences to create their unique Digital DNATM
and suggests other restaurants tailored to their tastes. In addition,
Nara expanded its personalized Web platform from eight to 25 cities
across the U.S. and Canada from New York City to San Francisco to
In the last month, Nara's site traffic has nearly doubled, while recent
page views are growing at an even higher rate. Since launching just one
month ago, Nara Mobile continues to see a strong increase in downloads
and user activity.
The Nara Neural Network Expands and Adds New Features to Mobile App
"We have discovered a new pattern for how information can be
automatically organized and personalized for people across the
Internet," said Dr. Nathan Wilson, chief technology officer of Nara. "We
are now deploying massively parallel neural networks into the cloud to
do this at Web scale and bring order to a growing number of categories.
It is exciting to watch the pace of this process quickening and we are
expanding way beyond restaurants as we encounter new categories and
weave connections across websites. We see a bright future in the
automated personalization of the entire Internet."
Launching first on Nara Web, the new "Why " button explains why Nara's
Neural Network has made a particular restaurant recommendation based on
a user's unique Digital DNA. Nara users have been curious about the
science behind the platform, so "Why " offers people more context.
In addition, Nara added these three new features to both Nara Mobile and
1. Ability to see restaurant menus on the Merchant Page
2. Integrated Foursquare (News - Alert) tips on the Merchant Page
3. New optimized viewing for iPhone 5 users
Founded in 2010, Nara Logics Inc. solves the problem of Web searching
through a next-generation personal Internet platform that automates,
personalizes, and curates the Web for people. Based in Cambridge, Mass.,
Nara's mission is to build a more personal, actionable and liberating
Web to achieve a life well found. Founded by Thomas Copeman, Nara has
raised $7 million to date led by Peter de Roetth of Account Management,
LLC. Find Nara online at: www.nara.me
and on social channels at: https://twitter.com/Nara__me
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