Growth Intelligence raises $3.4m from MMC and 83North
Founded by Thomas Gatten in 2009, the company uses web-scale data to predict clients for its B2B corporate customers – boosting conversion rate from telemarketing online advertising and outbound email. Customers sync previous wins and losses, and the platform uses open source-gathered big data and artificial intelligence to predict future clients.
The company already helps an impressive roster of clients identify companies to target, driving up marketing performance and revenue, including Google, BT, Lloyds Banking Group and American Express.
The funding will be used to hire new data scientists and engineers, as well as to boost client ROI and support algorithm development. Founder of Indeed.com, Paul Forster, early Google employee and chief economist Hal Varian, and Yahoo! investor John Taysom also participated in the round.
Gatten commented: “This investment is an exciting milestone for Growth Intelligence and will enable us to further develop our predictive marketing platform.
“Being able to predict whether a deal will close before you contact a prospect dramatically increases the efficiency of our clients’ marketing. We’re proud to be taking predictive marketing to the world with such a distinguished team around us.”
Simon Menashy at MMC Ventures continued: “This sort of predictive technology is a whole new concept for the marketing industry and it’s already winning over some impressive customers. MMC backs ambitious entrepreneurs and potential market leaders, we’re excited to be working with Gi.”