Traverse City Record Eagle October 4, 2017 By Dan Nielsen
The future looks bright for Derek Smith and his crew at Naveego, Inc. The technology company recently received a $500,000 investment from Traverse City-based Boomerang-Catapult LLC. And it recently inked a deal with Stonebridge Consulting, which provides advisory and technology services to the oil and gas industry.
The future looks bright for Derek Smith and his crew at Naveego, Inc.
The technology company recently received a $500,000 investment from Traverse City-based Boomerang-Catapult LLC.
And it recently inked a deal with Stonebridge Consulting, which provides advisory and technology services to the oil and gas industry.
Naveego creates and operates cloud-based software designed to sift through databases for bogus information and find irregularities among two or more different databases.
As data collection and use grows in importance for all kinds of companies, corporate headaches can grow. Most companies maintain multiple databases for things like sales, orders and inventory. Ideally, the information contained in all a company’s various databases should agree. But that’s not always true, and bad data can lead to major issues.
“It’s a problem almost everyone struggles with,” said Smith.
In the real world, some errors can lurk in a database for months or years before being discovered. Tracking down the source of the problem can be problematic. Getting the information right can take time.
Naveego’s software automatically strolls through databases, compares them to each other, and kicks out reports that identify errors.
“We’ve made it simple,” Smith said.
Prices range from $1,000-$5,000 a month for Naveego’s most basic service to $10,000-$100,000 a month for a more comprehensive product.
All of Naveego’s services are hosted on Amazon Cloud servers, so no installation is required.
Smith and Naveego co-founders Kevin Bozung and Beth Holmes-Bozung incorporated the company in 2014.
“We decided to be a production company from the start, not a service company,” said Smith.
So they marketed their service to existing companies that already had established client lists, each of whom have huge database collections.
Naveego markets its services to companies like Stonebridge and Akinnovate, which bills itself as a boutique consulting company that provides management consulting, engineering, and software development.
Stonebridge, Akinnovate and other Naveego clients then incorporate the Naveego data-quality service into their own offerings.
The strategy is working for Naveego. It currently has five employees and plans to soon add a sixth. Because Naveego’s direct clients are few, Naveego itself doesn’t need to handle most end-user questions. The company’s clients deal directly with end users in oil-and-gas, telecommunications and other industries.
Naveego will use the funds injected by investment firm Boomerang-Catapult to expand sales, marketing and other departments.
“We’re trying to diversify into other verticals,” said Smith.
Naveego’s software is stable, functioning well and ready to be rolled out to other databases in other industries.
“The products are performing their functions out in the wild,” Smith said.
More information is available at www.naveego.com or (231) 346-4144.