Black Swan Data Raises Funds for Expansion

In London, data science and consumer behaviour prediction specialist Black Swan Data has raised $18.5m in a growth funding round, part of which it will use to expand further into the US market.

Founded in 2011, Black Swan uses proprietary AI techniques to analyse social media content and predict consumer behaviour. The firm's flagship product, Trendscope, helps user companies to understand what consumers are thinking, how they're behaving, and how they're likely to behave in the future.

The funding has been led by new investor Oxx Capital, and according to Black Swan Data founders Steve King and Hugo Amos, will be used to expand the firm's data sources/partnerships, upgrade Trendscope with more intuitive UX, and scale US operations. It will also further support its White Swan charity, which uses the firm's tech to help patients with rare diseases find a diagnosis.

Commenting on the news, King said: 'This latest round of funding will allow us to build upon the growth of the last year and significantly invest in our core product, Trendscope, bringing customers new features and usability that enable them to create reliably relevant new products and shape a modern marketing innovation process for the future, particularly at a time when brands need a cost-effective way of continuous product innovation. We're excited to partner with new investors Oxx, and are hugely grateful for the continued support of our existing investors AlbionVC'.

The firm, which is headquartered in London, with additional offices in New York; Szeged, Hungary; and Cape Town, South Africa, is online at www.blackswan.com .