The Hive founder T.M. Ravi with Verizon Ventures director Christian Guirnalda at The Hive’s official launch event
Earlier this month, Verizon Ventures announced its partnership with The Hive, a Palo Alto-based co-creation studio that incubates and accelerates startups working solely on applications and use cases for data science technology. The Hive is an example of a growing trend where deeply experienced entrepreneurs take the time to mentor the next generation of startups. The Verizon Ventures team is excited to be working with Co-Founder and Managing Director T.M. Ravi who is an advocate for tackling the next frontier of data.
In addition to regular Think Tank discussion events that involve many of the industry’s best-known leaders, The Hive is central to the growing buzz about new applications for data. Ravi noted, “We believe that leveraging innovation in data science and scale-out infrastructure will disrupt markets and create new business opportunities because every industry will be radically transformed in the next 5-10 years with the use of data. Verticals that lend themselves to volume, velocity or variety of data are ripe for innovative approaches.”
The Hive has already sharpened its efforts in developing early stage startups solving problems across the enterprise with this week’s investment in Augmented Pixels, the developer of augmented and virtual reality technology that's making waves in the retail and real estate industries. The Hive led Seed funding which will allow Augmented Pixels to concentrate on the development of new 3D scanning technology and expand their current customer base, which includes National Geographic, Kohl's, Harkus and Jayman.
While there is a growing community of incubators and accelerators, The Hive’s studio model goes beyond funding and mentoring startups. Ravi and the team’s high touch engagement model ensure portfolio companies have a strong go-to-market strategy and early access to partners and customer channels. The Hive also provides a tech layer that has not gone unnoticed – a platform which applications can be built using open source software and common but customizable APIs that accelerate product development. These resources have undoubtedly helped portfolio companies make their exit with Kosei being acquired by Pinterest and just last week, Deep Forest Media (developer of a programmatic buying tool) being acquired by Japanese e-commerce giant Rakuten.
We were thrilled to be part of The Hive’s official launch earlier this month and we look forward to continued involvement with its great group of managers, advisors and portfolio companies.