Predictive analytics and ad management specialist QuanticMind has raised $20m in Series B funding, for use in hiring and product development.
The platform was developed by a founding team consisting of Stanford entrepreneurs and performance marketing veterans, and raised $10.3m two years ago, since when the firm says it has grown its customer base 'more than 300 percent'. The latest round was led by Foundation Capital, with additional participation from Safeguard Scientifics and Cervin Ventures. Foundation's general partner Ashu Garg will join the company's board.
QuanticMind uses machine learning, distributed cloud computing and in-memory processing to provide an intelligent, scalable and fast platform for enterprise digital marketing optimisation. The latest investment will specifically fund enhancements to its artificial intelligence, predictive advertising, data science and machine learning capabilities.
Garg says the company is 'at the forefront of applying next-generation technology to solve the complex challenges of digital marketing'. CEO Chaitanya Chandrasekar comments: 'At QuanticMind, we believe the ingenuity of the world's most brilliant marketers becomes exponentially more powerful when they combine and leverage every single piece of relevant data available'.
Web site: www.quanticmind.com .