Predixion Software raised $5 million through a Series A financing round led by DFJ Frontier investors.
The Aliso Viejo-based company develops predictive technology that can be used to forecast customer retention, purchasing patterns or to streamline business operations. It plans to use the money to increase its product development activities, add sales and marketing initiatives, and build out sales channel programs and strategic partnership plans.
DFJ Frontier is one of the most active venture capital organizations with an interest in early-stage technology companies along the West Coast. Other companies that participated in the financing round included Miramar Venture Partners, Palomar Ventures and a growth capital facility from Silicon Valley Bank.
“We are pleased to close our highly successful Series A financing round – especially with the current funding climate and slow global economy – and welcome the experience and guidance our blue chip investors will provide us,” said Predixion CEO Simon Arkell. “Companies of all sizes and in all geographies have expressed an interest in our predictive analytics cloud service, which breaks down the cost and complexity barriers by providing easy-to-use, self-service predictive analytics functionality. With this additional capital, we will quickly expand our ability to serve our growing customer and prospect base while further extending our technical leadership.”
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