Market Overview

QoreNext Announces Angel Investment Funding

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QoreNext has closed an Angel funding round with three prominent investors. The new company, started by Annik founder Rahul Sahgal, is launching a cloud-based Data-as-a-Service platform called Qore, for the AI and BI space. Annik was sold, as part of a PE rollup under LiquidHub, to CapGemini in 2018. The Angel investors include Kristin Luck, Adil Wali and Tom Lynch. They are investing in their individual capacity.

Kristin Luck is a serial marketing technology entrepreneur whose latest venture is growth strategy consultancy, ScaleHouse. She has previously consulted with Annik. Kristin is a licensed investment banker with Oberon Securities and an accredited investor who has also consulted for high-growth brands such as Voxpopme and Dstillery among others. She has participated in both acquisitions and exits from $30M to $250M. She is also the founder of Women in Research (WiRE), a global network of over 11,000 female entrepreneurs in the Research and Insights space.

Adil Wali has been a founder, investor, and advisor in a variety of eCommerce, FinTech, and SaaS companies. He is the creator of Merit, a cryptocurrency which aims to be the world's friendliest digital currency. He was also co-founder of ModCloth, a successful social commerce retailer. In addition to a senior leadership role at a top technology company, Adil is an active investor in multiple AI-driven quantitative hedge funds.

Tom Lynch has been the Chief Financial Officer at The NPD Group and is now responsible for M&A and partnerships. His management experience includes over 25 years in finance, operations, and transactions across the United States, Europe, and Asia. He has also previously led Media Metrix (NPD's Internet tracking spin-off) through three acquisitions as well as successful initial and secondary public offerings.

About QoreNext

Through its Qore platform, QoreNext aims to help solve the data problems facing the AI and BI space, starting with foundational data. Qore curates, manages and sells, on a subscription basis, high-quality foundational data from various sources across multiple industries. The company recently set up an office in Singapore and has imminent plans to expand into the United States and India.

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