The veteran Seattle entrepreneurs who previously sold Medio Systems to Nokia in 2014 are back it again with a stealthy advanced analytics startup called Lamda.
Lent and Bluhm, who have two other unnamed co-founders, have raised $1 million as part of a larger seed round from investors including Unlock Venture Partners, a new early-stage firm in Seattle co-led by Andy Liu, and have assembled a team of eight employees.
Lamda is developing technology powered by artificial intelligence and machine learning that is focused on one of the world’s largest asset classes. It will initially be a B2C play, with potential B2B services offered later.
Lent and Bluhm didn’t divulge other details about Lamda’s products and business plan when contacted by GeekWire on Tuesday.
The company’s leadership has plenty of startup experience. Lent and Bluhm in 2004 helped launch Medio, which initially started as a mobile search service but morphed into a mobile analytics provider that that Nokia scooped up and folded into its HERE Technologies arm. A consortium of German automakers later acquired HERE in 2015.
Lent, who is Lambda’s CEO, stayed on with HERE following the deal and was most recently chief technology officer before he departed last year to launch Lamda. Lent previously started companies including Micro Revelations and Intelligent Results. He was an executive at Junglee before Amazon acquired it in 1998; Lent spent the following two years at Amazon, where he created its first data mining group.
Bluhm is a longtime Seattle startup vet. He previously led companies such as Z2Live and DropForge Games, and is chairman of Powerit, a new battery startup.