US-based business data analysis technology producer Trove Predictive Data Science has closed $11m in equity financing from investors including corporates Avista, Itron and Ecova, Buffalo Business First has reported.
Energy utility Avista, energy and water resource management provider Itron, and energy management service provider Ecova were joined in the round by non-profit research and development company CUBRC.
Founded in 2011 as GridGlo, Trove has built a platform called Sunstone that combines internal and external business data and uses machine learning to give businesses insight into their operations and recommendations on how they can be improved. The software is particularly aimed at energy providers.
Avista and Itron previously contributed to an $8.4m round closed by Trove in February 2015, after CUBRC had supplied $2.3m in funding across rounds in 2011 and 2013.