Funds for Consumer Intelligence Firm NGDATA

Gent, Belgium-based consumer intelligence specialist NGDATA has closed a $10.2m Series B round of venture funding, which it will use for further company expansion and to continue development of its customer experience management solution, Lilly Enterprise.

The firm's flagship software solution Lily combines machine learning with big data from point-of-sale (POS) systems, enterprise applications, social media sites and more, to generate a snapshot of consumer preferences and behavior, and help with targeting and personalisation. An enterprise version is available allowing companies to take action based on timely contextual alerts.

The latest funding was led by Idinvest Partners with participation from existing investors including Pamica, Capricorn Venture Partners, Nausicaa Ventures, SmartFin Capital and angel investors. It adds to a $2.5m round of funding the firm secured in 2012 to establish offices near New York and San Francisco, and $3.3m raised in 2013.

CEO Luc Burgelman (pictured) comments: 'Lily Enterprise transforms the way companies do data analytics and how they interact with their customers. This is an exciting time for NGDATA, and this funding further propels us as the category leader in customer experience management'.

Web site: www.ngdata.com .

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