Roll Out and Funds for BI Analytics Platform MachEye

In the US, AI-powered analytics specialist MachEye has officially launched its enterprise business intelligence (BI) SaaS platform, designed to help all users in an organization explore data and uncover intelligence. The firm has also raised $4.6m in a seed round of funding.

Founded in 2018 by tech entrepreneur Ramesh Panuganty (pictured), MachEye can be used to ask questions - such as 'how were the sales this quarter' - and receive an audio-visual of how an analyst would answer that question. In addition, the platform provides insights on trends, anomalies, or segments extracted from a user's data; and, over time, its AI capability learns from a user's search behavior, and delivers insights and alerts without the user having to search for them. The company claims that retail, technology and education clients already use MachEye to reduce customer churn, identify growth opportunities, and increase forecasting accuracy.

Commenting on the launch, Panuganty said: 'Existing technologies have made strides in usability but still failed to empower all users to easily explore data and make decisions quickly. The net result is that businesses lose trillions of dollars because the right decision is not being made on time or not being made at all. MachEye empowers entire organizations to make smarter decisions at scale, which we believe will lead to happier customers, more efficient operations, and, eventually, more valuable companies.'

New funding has been led by Canaan Partners, with participation from WestWave Capital.

Web site: www.macheye.com .

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