United Arab Emirates-based data analytics software company NeuString closed a series B round yesterday, led by corporate venturing unit Intel Capital. Also participating in the round, which raised an undisclosed amount, was the Kuwait government-backed fund the National Technology Enterprises Company (NTEC) and undisclosed private shareholders.
NeuString was one of seven companies to receive funding from Intel Capital which totalled about $25m, in November 2009, although the amount Intel invested in NeuString was not disclosed.
NeuString provides software to mobile service providers which enables them to structure pricing based on predictive data analytics. The data analysed can be wide enough to cover the entire market or precise enough to concentrate on a single customer.
Feroz Sanaulla, investment director of Intel Capital’s Middle East, Turkey and North Africa region, said: "NeuString fits very well into our portfolio and is showing exceptionally strong customer growth both as a cloud-based service and as a software product.