Idinvest Partners, the private equity firm backed by media company Lagardère, insurance provider Allianz and state-backed fund BPIfrance, led a $10.2m series B round for US-based big data analytics provider NGData on Wednesday.
The round also featured Pamica, which acts as entrepreneur Michel Akkermans’ investment vehicle, as well as Capricorn Venture Partners, Nausicaa Ventures, SmartFin Capital and assorted angel investors.
NGData’s platform, Lily Enterprise, uses big data analytics to create detailed profiles of customers in real-time. These profiles can then be used to create a personalised experience of a software product.
The company will use the money to expand, particularly in the financial services, media, publishing and telecommunications sectors, and to further develop Lily Enterprise. Luc Maruenda, a partner at Idinvest, has joined NGData’s board, while Michel Akkermans has been named chairman
NGData previously raised $3.3m in a series A round in 2013 led by Capricorn, with participation from Sniper Investments and several individual investors. Financial services firm ING, Sniper Investments, Plug and Play Ventures and a range of angel investors backed its $2.5m seed round in 2012.