Predixion Software, a US-based developer of collaborative predictive analytics software, has raised $20m in series C financing from new strategic investors, management consultancy Accenture and GE Ventures, the corporate venturing arm of US conglomerate General Electric. Current financial investors DFJ Frontier, EMC, Miramar Venture Partners and Palomar Ventures also subscribed to the round of financing, along with new investor, Frost Venture Partners.
In conjunction with its role in leading the financing round, Accenture will jointly develop a range of advanced analytics solutions for its clients with Predixion.
Sajid Usman, global managing director for Technology at Accenture Analytics, said: “We are pleased to join forces with Predixion Software to offer our clients’ business users new intuitive data analytics and collaboration solutions.”
Brett May, head of Software Ventures and Business Development, GE Software, said: “From aviation to health care, GE’s customers are now collecting unprecedented amounts of data, due to a growing number of intelligent business systems and sensor-equipped machines. GE plans to launch many next-generation Industrial Internet services that leverage that data and its context. We believe that Predixion will broaden the spectrum of creators and consumers of big data predictive analytics and we’re excited about the company’s potential to help us offer data-driven value to our customers.”
Simon Arkell, chief executive officer and co-founder, Predixion Software, said: “Bringing on world-class investors like Accenture and GE validates the massive opportunity for nimble predictive analytics technologies.”