US-based predictive analytics software developer Prevedere has received $10m in series B capital from backers including Microsoft Ventures, the corporate venturing subsidiary of software provider Microsoft.
Norwest Venture Partners (NVP), the VC firm that manages funds for financial services provider Wells Fargo, led the round while private equity firm PointGuard Ventures and seed-stage venture capital fund Rev1 Ventures also contributed.
Founded in 2010, Prevedere supplies enterprise software that uses data analytics to combine and assess external information covering economic, environmental and consumer behaviour and internal data to predict business performance.
The company had previously raised $6.7m in a June 2015 series A round led by PointGuard Ventures, after NVP, Foundation Capital and Rev1 Ventures had supplied an undisclosed amount of seed capital.
Leo de Luna, managing director, Microsoft Ventures, said: “We believe Prevedere has created a unique business intelligence platform that harnesses the power of the cloud to provide companies with more powerful business insights and forecasts within their established forecasting processes.
“Our investment builds on our existing relationship as a partner to help expand Prevedere’s work with enterprise companies today and in the future.”
Rev1 invested through its Rev1 Fund I, which closed at $22m in August 2016 with backing from limited partners including corporates Nationwide, Crane Group, Cardinal Health, Worthington Industries, AEP Ohio, Dispatch Printing Company, State Auto Insurance and IGS Energy.