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An Investment in Predictive Analytics Makes Perfect Sense

Posted on 3.17.2017
Forward-thinking companies are reconsidering their business models; is there a way for us to sell a subscription (thanks Adobe), is there a way to connect our product to the Internet (thanks Nest), is there a way to charge per usage (thanks iTunes) or is there a way to offer our services on demand (thanks Uber)? As more startups launch or more legacy companies reinvent themselves, a significant amount of data is out there for the taking (just think of what usage patterns could tell a company - exciting stuff, really). The data needs to be captured, analyzed and leveraged to retain customers once the novelty fades - and predictive analytics can help brands automate outreach efforts well before the consumer leaves, or even thinks about leaving. 

For those reasons - the recently announced funding news out of Ohio-based Prevedere makes perfect sense. New business models need new retention efforts, and Prevedere has sold some industry heavy weights on its value, closing $10 million in Series B funding led by Norwest Venture Partners with participation from Microsoft Ventures and existing investors PointGuard Ventures and Rev1 Ventures. Prevedere closed a Series A funding round of $4 million in 2015

“This investment solidifies Rev1’s position as a lifecycle investor, and further proves our commitment to supporting the region’s high-growth companies from concept to early stages,” said Tom Walker, CEO of Rev1 Ventures. “One of Rev1’s earlier seed funds was the first investor in Prevedere five years ago and we’ve supported the company’s growth with capital and strategic services since its formation. As a result of its customer-centric approach, Prevedere has attracted attention and capital from West Coast investors, while maintaining its strong presence in Ohio. They are a model for a successful Central Ohio startup, and we are pleased to continue supporting their growth.”
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