CRM Authors: Xenia von Wedel, Ian Khan, PR.com Newswire, Steve Mordue

Blog Feed Post

Futurelytics raises $800K to bring easy-to-use prescriptive analytics to companies of all sizes

Enables companies to mine their data to increase revenue, improve customer retention and acquire new customers

November 11, 2013 - OSTRAVA, Czech Republic - Futurelytics Inc., a prescriptive analytics platform that helps businesses derive value from their data, announced that it has closed a Series Seed financing round of $800K. The company will use the funds to accelerate product development, initiate new strategic partnerships and expand internationally, initially to the US and the UK.

The financing round was co-lead by Index Ventures and Credo Ventures. Other investors include Kima Ventures and business angel Rob Keve (former CEO of FizzBack). Last year, Futurelytics became the first Czech company to win $65,000 in initial funding from Seedcamp, Europe's leading early-stage micro seed investment fund and mentoring program. Orrick London has been legal advisor in this deal.

The platform provides businesses with a plug-and-play solution that taps into existing data sources such as CRM systems or e-commerce solutions. It leverages behavioural patterns hidden in the cloud to rate customers, group them into segments and instantly provides recommendations on how the company can increase revenue, improve customer retention and acquire new customers.

"The notion that to be able to mine data, you need to be a big firm with an IT department to manage it, expensive software to crunch it and data scientists to analyse it, is false," said Daniel Hastik, CEO of Futurelytics. "Most businesses already have customer data in various cloud services. We offer them a very simple way to analyse those data sets and immediately take actions that will directly impact their business. It's that simple."

Jan Hammer from Index Ventures commented: "Futurelytics is leading the next generation of data analytics. We started with descriptive, after which came predictive. The next stage is prescriptive analytics, which is what Futurelytics does, as it actually recommends actions to be taken, in essence running campaigns for companies. We believe this is extremely powerful. Daniel and Mirek have assembled a very strong team in Ostrava and have shown that brilliant entrepreneurs really can come from anywhere. For the long while we've known the team, we've continued to be impressed by what they've achieved."

Credo Ventures Partner's Ondrej Bartos added: "We have known Daniel and Mirek for over a year, and have followed Futurelytics becoming the very first Czech Seedcamp winner, as well as their ability to execute on their milestones. Startups are all about people, and we believe in the Futurelytics team and their vision of cloud-based predictive customer analytics platform. We are looking forward to working with them."

About Futurelytics
Futurelytics Inc. is a predictive analytics platform that helps businesses derive value from their data. The platform provides businesses with a plug-and-play solution that taps into existing data sources such as CRM systems or e-commerce solutions. In 2012, Futurelytics became the first Czech company to win funding from micro seed investment fund Seedcamp.

About Index Ventures
Index Ventures is a leading venture capital firm investing in technology and life science companies. From offices in Geneva, London and San Francisco, Index is dedicated to discovering and supporting the best entrepreneurial teams wherever they are looking to build market-defining, global businesses. Since its inception in 1996, Index Ventures has backed visionary entrepreneurs who have taken on incumbents and built seminal companies including MySQL, Virata, Skype, Last.fm and Betfair. Its portfolio currently consists of more than 150 innovative companies based in 20 countries and 39 cities including Dropbox, Etsy, Funding Circle, King, Supercell, Criteo, Nasty Gal and Soundcloud. www.indexventures.com

About Credo Ventures
Credo Ventures is a venture capital firm that focuses on early stage companies in Central and Eastern Europe across the information technology, internet, mobile and healthcare markets. Founded in 2009, Credo Ventures is based in Prague, Czech Republic. More on http://www.credoventures.com

Media contact:
Daniel Hastik, CEO

Source: RealWire

Read the original blog entry...

More Stories By RealWire News Distribution

RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.

IoT & Smart Cities Stories
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and Bi...
The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get tailored market studies; and more.
Tapping into blockchain revolution early enough translates into a substantial business competitiveness advantage. Codete comprehensively develops custom, blockchain-based business solutions, founded on the most advanced cryptographic innovations, and striking a balance point between complexity of the technologies used in quickly-changing stack building, business impact, and cost-effectiveness. Codete researches and provides business consultancy in the field of single most thrilling innovative te...
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City.
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
Atmosera delivers modern cloud services that maximize the advantages of cloud-based infrastructures. Offering private, hybrid, and public cloud solutions, Atmosera works closely with customers to engineer, deploy, and operate cloud architectures with advanced services that deliver strategic business outcomes. Atmosera's expertise simplifies the process of cloud transformation and our 20+ years of experience managing complex IT environments provides our customers with the confidence and trust tha...
Intel is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world's second largest and second highest valued semiconductor chip maker based on revenue after being overtaken by Samsung, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also manufactu...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...