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Formation 8 leads $21m VC round for Context Relevant

21 May 2014

Predictive analytics software developer Context Relevant has raised $21m in Series B funding led by San Francisco-based Formation 8.

Existing investors Madrona Venture Group, Bloomberg Beta, Vulcan Capital, and several prominent Seattle-area angels also joined in the round, as well an unnamed bank and” one of the largest insurance companies in the US”.

The Series B brings total funding to-date for Context Relevant to $28m.

Seattle-based Context Relevant has developed the world’s fastest automated predictive analytics software.

“There’s been quite a bit of noise and hype around data analytics. Too many companies provide tools that don’t address mission critical issues for businesses. Context Relevant’s products address real customer pain points and solve big problems,” said Jim Kim, founder and managing partner, Formation 8. “The team at Context Relevant is at the leading edge of productising data science for the world’s premier financial organizations, with many adjacent markets still to come.”

Formation 8 focuses on the US, China, Korea and Singapore.

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