US-based predictive analytics software provider Predixion Software yesterday secured enterprise software provider Software AG as a lead investor in a forthcoming series D round that will also include industrial conglomerate General Electric.
General Electric is set to invest through GE Software Ventures, a corporate venturing unit overseen by its subsidiary GE Software, which develops smart sensors and analytical software for industrial use.
Existing investors are also returning for the series D round, which is expected to close within two to three months. The size of the round has not been disclosed.
Predixion’s technology is based on machine learning, and enables real-time analytics to be integrated into existing applications.
The company plans to use the series D funding to support its move into the internet of things sector, developing analytics for manufacturing, energy and utilities, transportation, healthcare and retail industries.
Predixion closed a $20m series C round in 2013 led by management consultancy firm Accenture that also included GE, data storage company EMC, DFJ Frontier, Miramar Venture Partners and Palomar Ventures, as well as Frost Venture Partners.
The company raised approximately $11.8m across its seed, series A and B rounds in 2010 and 2011.
Frederic Hanika, head of mergers and acquisitions and corporate ventures at Software AG, said: “Our investment in Predixion is a part of our ongoing efforts to enable customers to drive operational efficiency, modernise systems and optimise processes for smarter decisions and better service.”