Infer Raises $10m for Customer Prediction Offer

US company Infer, which offers a predictive solution based on the mining of historical customer win/loss data, has secured $10m in Series A funding, which it plans to use to grow its team of engineers and scientists and broaden the application of its solution.

Founded in 2010, Paolo Alto-based Infer offers a cloud-based app which taps into existing enterprise data, and combines this with 'external signals' from the web in order to identify customers with the highest propensity to buy. This involves using information retrieval and machine learning algorithms to model customer data, along with company financials, social media presence, job listings, legal filings and other external information.

The firm's funding has been led by Redpoint Ventures, with participation from Andreessen Horowitz, Social+Capital Partnership, Sutter Hill Ventures, and several angel investors.

Infer co-founder and CEO Vik Singh (pictured) comments: 'When we founded Infer, we were shocked by how poorly even the biggest companies manage and act on their own internal data. For example, there's way more intelligence being applied in Facebook's newsfeed telling you that your friends are getting drinks across the street than there is in helping companies make critical decisions. We intend to bring the product thinking and data intelligence of the consumer space to the enterprise, and deliver data science applications that solve real problems.'

Web site: www.infer.com .

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