Predixion Software announced today it has closed its Series A financing round, raising a total of $5 million led by DFJ Frontier. ebizQ received the following: Predixion, which recently introduced Predixion Insight for Excel and..."/> Predixion Software Finalizes Series A Financing—Raises $5 Million
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Predixion Software Finalizes Series A Financing—Raises $5 Million

10/13/2010

Predixion Software announced today it has closed its Series A financing round, raising a total of $5 million led by DFJ Frontier.



ebizQ received the following:

Predixion, which recently introduced Predixion Insight for Excel and PowerPivot, a low-cost, self-service in the cloud predictive analytics solution, will use the funds to expand its product development activities, increase sales and marketing initiatives, and further build out its sales channel programs and strategic partnership activities.

DFJ Frontier, part of the DFJ Network, the industry’s most active venture capital organization with more than $7 billion under management, invests in seed and early stage technology companies on the West Coast. Also participating in the financing round were Miramar Venture Partners, which invests in early-stage information technology opportunities with an emphasis on projects based in Southern California, and Palomar Ventures, which has over $500 million in total capital under management. A growth capital facility from Silicon Valley Bank completed the round.

“The combination of Predixion Software’s veteran and highly successful management team and its disruptive low-cost, self-service in the cloud predictive analytics solution made Predixion Software highly attractive to Palomar from an investment perspective,” said Kevin Jacques, Palomar Ventures partner and Predixion board member. “Predixion perfectly fits our investment profile of an early stage information technology company that demonstrates the potential for exceptional growth and market leadership.”

“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. “In the short time since our company launch, 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,” Arkell said.

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