Analytics Firm Gets $5.5m Cash Boost

In the US, Proclivity Systems - which develops consumer shopping and purchasing behavior analytics - has raised $5.5m in Series B financing, led by Fung Capital USA Fund, with co-investment from WPP Digital and Pilot Group, as well as investors from the firm's Series A funding.

Proceeds from the deal will be used to enhance Proclivity's technology platform, recruit new managers, and expand sales in new markets.

The company's software helps marketers and retailers predict what their customers will buy. In addition, its 'Consumer Behavior Bank' provides clients with a platform for executing campaigns across various marketing communication channels based on predictive insights uncovered by Proclivity.

The system identifies shopping interests, purchasing likelihoods, and expenditure levels of consumers and then incorporates them into recommendations to drive marketing campaigns.

Mark Read, CEO of WPP Digital, which WPP uses to make strategic investments in the sector, says most digital marketers and e-commerce merchants have 'more data than they know what to do with.' He continues: 'The Proclivity platform enables them to extract insights from their data that can dramatically improve the effectiveness of marketing programs.'

Proclivity Founder and CEO Sheldon Gilbert says his firm's platform allows clients to benefit from insights into their data, which drives targeted, timely campaigns based on behavioral analysis.

Founded in 2006 and based in New York City, Proclivity is online at www.proclivitysystems.com .

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