GraphDive is a Menlo Park, California based startup company. GraphDive has the first API to fulfill the monetization promise of social data. The company announced that they have raised $1 million in funding this month from Crosslink Capital, Correlation Ventures, and some of the top angel investors. The platform is currently open on an invite-only basis.
Industry verticals like e-commerce, media, and travel companies will get access to ranked user interests and demographic data as well as personalized user recommendations.
GraphDive was founded in 2011 and the company spent two years developing a technology platform to analyze every piece of data that is found on social networks like Facebook, Google+, and Twitter. Part of their technology includes a unique Knowledge Graph that they have built which can understand any piece of social data.
GraphDive is already serving thousands of API calls per day to private beta customers.
“We founded GraphDive with the vision that each individual is unique, so businesses should personalize their offerings to each of us uniquely,? stated GraphDive co-founder and CEO Shahram Seyedin-Noor. “The explosive growth of social data, combined with the adoption of Facebook Connect, presents an amazing opportunity for businesses to serve their customers using our Social API. Our platform is where Big Data analytics meets ?social? for the enterprise.?
I spoke to Shahram Seyedin-Noor and he told me that GraphDive’s co-founder Sina Sohangir did his PhD in electrical engineering with a focus on computational complexity and information theory at Stanford University. When Shahram Seyedin-Noor worked at NextBio, he was in charge of hiring dozens of engineers as the CFO and the VP of Corporate Development. He helped grow the company from a small startup to a company that hit 10’s of millions in revenues.
The way it works is that when a user logs in to a website using Facebook Connect, they allow it to access their general information through Facebook’s APIs. This way a vendor can personalize offerings to them, or advertisers can cater ads for them. Let’s say that I login to the Huffington Post through Facebook Connect and one of my interests is “basketball.” HuffPo can them show me more articles related to that sport, and its ads can also target me based on that interest.
One of GraphDive’s users is Zoostores.com. Zoostores.com has a widget on their website. When a Facebook user connects to Zoostores.com, the Zoostore user will then be able to receive recommendations reflecting his interests, similar to the way it works on Amazon.com, but this time based on his social profile. Same would be true if I Facebook Connected on Netflix – they could target me new movies based on my Facebook interests (if they used GraphDive).
I asked Shahram how he got into the social enterprise business since he was working in the healthcare industry before that. Shahram has been working in Palo Alto, California for around 13 years and worked as an advisor to tech companies like Sun and Inktomi while he was an investment banker at Goldman Sachs. He took some time to figure out what the best startup idea would be for him before he quit his prior job.
“Social media is even bigger than healthcare” said Shahram in an interview with Pulse2. “Every single business online can use our product.”