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Predixion venture backers joined by Accenture, GE Ventures for $20m Series C

8 Jul 2013

bar-chart-graphGE Ventures, and Accenture are the latest investors to back Predixion Software having joined a $20m Series C financing round.

Existing investors include Frost Partners, DFJ Frontier, EMC, Miramar Venture Partners and Palomar Ventures, all of which returned with capital for the round.

Accenture said that in conjunction with leading the round it would jointly develop a range of advanced predictive analytics and solutions for its clients with Predixion.

Predixion’s recent milestones included starting the year with six new strategic customers, revenue growth of over 800 per cent, on average, for 2011 and 2012, as well as closing Q1 2013 revenue that exceeded all of 2012 revenue by 30 per cent.

The company said it planned to use the funding proceeds to accelerate product development and scale its sales and marketing organizations to support demand and growth.

Sajid Usman, global managing director for technology at Accenture Analytics, said, “The end-to-end capabilities we’re building will make it more cost effective for our clients to turn data into insights, actions, and ultimately business outcomes.

“Our investment in Predixion is part of our on-going strategy of bringing capabilities to our clients that cover the full analytics value chain and help them move forward on their analytics journey to ROI.”

Last month investment bank Goldman Sachs made a minority investment of $100m in private equity-backed cloud-based predictive analytics software company Applied Predictive Technologies (APT).

APT’s software helps companies use their big data to accurately measure the profit impact of advertising, marketing, pricing, merchandising, operations and capital initiatives to increase their return on investment.

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