Predictive Analytics Firm Context Relevant Gets $21m

US big data predictive analytics software firm Context Relevant has raised $21m in Series B funding, which it will use to quadruple the size of its workforce and expand its presence in New York City.

The Seattle-based company delivers apps based on models that can predict changes in a client's operations, customers, and product pricing, flagging up who their most valuable customers are and the best way to reach them. It also predicts how likely customers are to buy during a specific time period and in what geographic location.

New funding was led by Formation 8, with participation from existing investors Madrona Venture Group, Bloomberg Beta, Vulcan Capital, several angels, and a high-profile bank and insurance company. Total funding to date is now $28m.

Context Relevant is led by data scientist and CEO Stephen Purpura (pictured), who comments: 'We are helping companies sort through their data and get meaningful outcomes in a short period of time, and these companies are seeing extraordinary value. Our investment partners understand the proven effectiveness of Context Relevant's software and realize its game-changing potential.'

Web site: www.contextrelevant.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.