NGData, a Belgium-based big data analytics provider backed by financial services firm ING, closed a series C round sized at “just over” $19m on Tuesday led by private equity firm HPE Growth Capital.
Idinvest Partners, Pamica, SmartFin Capital, Capricorn Venture Partners and Nausicaa Ventures also took part in the round, which increased the company’s overall funding to almost $45m.
NGData has developed a software platform that helps companies in sectors such as financial services, utilities, telecommunications and hospitality to make use of their customer data.
The platform, Lily Enterprise, uses big data analytics to create detailed profiles of customers in real time which can then be used to create a personalised experience of a software product.
The funding will be used to accelerate global growth, and follows NGData’s acquisition of data management and analytics firm Eccella for an undisclosed amount in June this year.
NGData closed a $19.6m series B round in January 2017, raising the first $10.2m from Idinvest Partners, Pamica, Capricorn Venture Partners, Nausicaa Ventures, SmartFin Capital and assorted angel investors in 2015.
Idinvest led the $9.4m second tranche with contributions from Pamica, SmartFin, Capricorn, Nausicaa and undisclosed angel investors.
Capricorn, Sniper Investments and various angel investors funded a $3.3m series B round for NGData in 2013, after it had received $2.5m in seed capital from ING, Sniper Investments, Plug and Play Ventures and assorted angel investors in 2012.