12 February 2010:
PredictHQ has raised the $22 million in Series B round of funding. The funding round was led by Sutter Hill Ventures. Existing investors also participated in the funding.
This funding will enable PredictHQ to grow strategically at full pace as they develop solid foundations for a huge business, the company said in a blog.
Campbell Brown, CEO and co-founder of PredictHQ, said, “This funding enables us to move more quickly on our mission to bring demand intelligence to the world. In today’s hyper connected world, it just doesn’t make sense for businesses to miss out on factoring the significant impact of real-world events into their forecasting, pricing, planning, and other business optimization strategies.”
Campbell Brown, added, “Our API is being leveraged by some of the largest airlines, hotels, retail chains, and on-demand platforms in the world. Everything from conferences to sports to natural disasters impacts revenue, product usage, supply chain, and operations. Our technology allows these customers to consistently stay one step ahead. With this investment, we’re able to continue to expand the amount of anomalies we verify, rank, and predict the impact of, so we can realize our vision of predicting the catalyst behind any form of demand.”
Brian Blond, managing director at Sutter Hill Ventures, said, “When we heard about the huge problem PredictHQ was solving and the tech they are creating, we knew we had to get involved. PredictHQ’s demand intelligence is already transforming how businesses boost revenue and optimize labor. It’s rare to find a company that has identified an entirely new category and moved so effectively to own it.”
Theresia Gouw, PredictHQ board member and co-founder of Aspect Ventures and Acrew Capital, said, “The substantial growth PredictHQ has experienced in the past few years underscores the importance of demand intelligence for companies who want to stay ahead and excel within their markets. We’re looking forward to seeing how PredictHQ will unlock new opportunities for revenue and potentially change the global economy.”
(Image – PredictHQ)