NEW YORK: Relationship Science has launched a free monitoring service the company bills as being more reliable, accurate, and useful than Google Alerts.
Since its launch in 2003, Google Alerts has amassed hundreds of millions of users. But the problem with the product is it relies only on keyword searches, often casting too wide of a net, said Relationship Science founder Neal Goldman.
His company hopes to fix that problem with its new service, News & Alerts.
The service uses a range of variables, such as topic and industry, and pulls information from sources not tracked by news monitoring services, including regulatory filings, government databases, and company websites.
The result is a pinpointed digest of information about a particular person, organization, industry, or alumni that excludes search queries with similar names. It also allows users to search in real-time and create email alerts.
"In this information-overload world, where there’s a lot of competition and noise, how do you deliver clean, actionable data?" Goldman said. "Think about an invisible hand keeping you apprised of things that will help you generate new ideas for clients, new ideas of clients, and deepen your relationships with clients."
Relationship Science is an enterprise-focused company, offering its more than 1,000 clients "in-depth" profiles on businesses and influential people, details on work history, board memberships, nonprofit donations, personal interests, awards, investments, and other valuable intelligence, a statement said.
The company has raised $120 million over four rounds of fundraising, according to a spokesperson.
Notable investors include: Bill Ackman, Henry Kravis, Kenneth Langone, Stanley Druckenmiller, MacAndrews & Forbes, C.V. Starr & Co., Hearst Corporation, Ron Burkle, Barry Sternlicht, RIT Capital Partners, Andrew Tisch, Harvey Golub, Reuben Jeffery, David Komansky (former chairman and CEO of Merrill Lynch), Tom Glocer (former CEO of Thomson Reuters), Randy Lerner (former chairman of MBNA), Stephen Luczo (chairman and CEO of Seagate), William Rudin, and Salesforce.com, among others.
"But we’re not just processing news," Goldman said. "This is a small product in this big enterprise. We give you all the ammunition - both the trigger and context of your relationship, giving you a to-do list for leads. We take in data from hundreds of thousands of sources, not just news."
Goldman said Relationship Science launched this free product to grow the company.
"There are companies we can’t reach with a direct sales model," he said. "We wanted to make parts of it for free, which people will find and use. It’s kind of a way to go into an enterprise through the floorboards, rather than top-down – through actual practitioners."