New Funds for Predictive Modeling Firm Pecan AI

Israel-based predictive modeling and data science platform Pecan AI has raised $66m in a Series C round of funding, which it will use to scale its global footprint and accelerate R&D initiatives.

According to Pecan, its low-code platform enables business intelligence (BI) analysts to convert massive amounts of raw transactional data into predictions of key performance indicators that directly impact revenue and profitability. The technology is designed to help companies improve customer acquisition, customer retention and lifetime value, demand forecasting, supply-chain optimization, resource allocation, and pricing and packaging.

New funding has been led by Insight Partners, with participation from GV (formerly Google Ventures) and existing investors S-Capital, GGV Capital, Dell Technologies Capital, Mindset Ventures and Vintage Investment Partners, and brings the total raised in the past twelve months to more than $100m. Pecan CEO and founder Zohar Bronfman (pictured) comments: 'We believe that any company should be able to deploy AI-based predictive analytics, even without data science resources on staff. This new funding will help us scale Pecan further to overcome the data science scarcity gap, enabling our customers to move beyond outdated data-mining techniques that offer little value in predicting future outcomes'.

Web site: www.pecan.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.