Funds for Purchase Prediction Firm Buynomics

Buynomics, which uses simulation technologies to digitize and predict customer purchasing behaviour, has raised EUR 13m in a Series A round of funding, which it will use to grow its product and commercial teams, and expand to the US market.

Based in Cologne, Germany, Buynomics has developed 'Virtual Customer' technology that models the preferences and buying decisions of large groups of individual customers, integrating large amounts of data from a broad range of sources, including transaction and survey data. Results can help clients optimize price changes, promotions and product innovations.

New funding was led by Insight Partners, with participation from existing investors LaFamiglia, Seedcamp, Dieter von Holtzbrinck Ventures (DvH Ventures), and Tomahawk. Buynomics will also invest its new funds in its product team, and its global commercial team, and it plans to open a US office next quarter.

Company co-founder and MD Ingo Reinhardt (pictured) comments: 'Buynomics enables a deeper understanding of the value consumers assign to individual products. Today, businesses must react faster to competitor moves or cost increases and be able to identify growth opportunities. Traditional - often Excel-based - solutions are no longer sufficient. As the pressure for corporations continues to mount, Buynomics strives to become the operating system for all commercial decisions'.

Web site: www.buynomics.com .