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