Predixion Software announced it has closed its Series A financing round, raising a total of $5 million. It will use the funds to expand its product development activities, increase sales and marketing initiatives, and further build out its sales channel programs and strategic partnership activities.
Predixion Software, Inc. is a provider of predictive analytics solutions that are fully integrated with Microsoft Corp.'s BI platform – which has the largest install base across the business intelligence landscape.
Predixion enables Self-Service Predictive Analytics™ (SSPA) allowing customers to use and analyze large amounts of data to make actionable decisions, all within the familiar environment of Excel® and PowerPivot.
“We are pleased to close our highly successful Series A financing round—especially with the current funding climate and slow global economy—and welcome the experience and guidance our blue chip investors will provide us,” said Predixion CEO Simon Arkell.
“In the short time since our company launch, companies of all sizes and in all geographies have expressed an interest in our predictive analytics cloud service which breaks down the cost and complexity barriers by providing easy to use, self-service predictive analytics functionality.”
“With this additional capital, we will quickly expand our ability to serve our growing customer and prospect base while further extending our technical leadership,” Arkell said.