Software-as-a-service application uses big data analytics to predict consumer behavior
Munich/Hamburg, February 5, 2015: Munich-based venture capital firm Target Partners (www.targetpartners.de) today announced a € 2.5 million Series A investment in GPredictive (www.gpredictive.de). The Hamburg company analyzes customer data for enterprises and predicts the future behavior of customers, enabling businesses to achieve a more accurate marketing and sales alignment. GPredictive offers these comprehensive predictive analytics as software-as-a-service, thus eliminating the need for companies to have large IT departments, specialized knowledge or incur investment costs. This infusion of capital will go towards product development and the expansion of sales activities.
GPredictive has been achieving remarkable success with "scores out of the box". For example, if an online shop or a brick-and-mortar retailer wishes to mail out 100,000 copies of a catalogue, but has a customer database with one million leads, then those leads have to be prioritized according to their ranking. Among other things, GPredictive utilizes the purchase history, enhances the data and then calculates an individual score for each lead. This results in up to four times more orders.
"Predictions based on analyzed customer data make sales much more targeted and cost efficient, and minimize marketing waste - this translates into a real competitive edge. We make the field of big data accessible to businesses of all sizes. There is no need for investment costs or IT expertise. Using the application is as simple as accessing stock market prices. We have given high priority to data protection and security: all the data is stored and analyzed entirely in Germany," said Björn Goerke, GPredictive's co-founder and CEO.
"GPredictive has successfully leveraged the big data megatrend to develop an attractive business model. Customer data analytics have been proven to considerably increase the efficiency of sales and marketing operations, and save businesses time and money. GPredictive makes the artificial intelligence technology of state-of-the-art machine learning available to all users," said Waldemar Jantz, a partner at Target Partners.
"Two aspects were crucial for us when we set out to find a venture capital firm: expertise and trust. Target Partners was our first choice," stated GPredictive CEO Goerke about his company's new partner.
The GPredictive management team consists of CEO Goerke; Dennis Proppe, Head of Technology; and Philippe Take, Head of Sales & Marketing. The startup was founded in 2009 as a consulting company for big data projects at major corporations. It was during the consulting projects that the startup's founders came up with the idea of shifting their business focus. "We wanted to take the technology that was only available to data departments of major corporations and make it accessible to any business," explained Goerke. In 2012, the founders received seed funding from the Seed and Start-up Fund Schleswig-Holstein and additional funding from angel investor Prof. Thorsten Grenz, former CEO of Mobilcom and Veolia Umweltservice. Prof. Grenz serves on the Business Advisory Board of the Kiel Institute for the World Economy, the Supervisory Board at Dräger and is a member of the Advisory Board at GPredictive.
To accelerate its growth, the startup is currently looking for new software developers, sales staff and customer support representatives. Its sales activities are focused on Germany. Over the medium term, the company is planning to expand into international markets.
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GPredictive, which is based in Hamburg, has tapped into the field of big data analytics to create products for marketing and sales operations. These solutions enable customers to focus on sales activities and product lines in order to significantly boost sales performance. GPredictive turns data into competitive advantages; the comprehensive, complex analytics required to accomplish this are provided as software-as-a-service. GPredictive delivers the results. GPredictive is managed by Björn Goerke (CEO), Dr. Dennis Proppe (Head of Technology) and Philippe Take (Head of Sales & Marketing).
To find out more, visit: www.gpredictive.de, follow us on Facebook: www.facebook.com/gpredictive or Twitter: twitter.com/GradientGmbH.
GPredictive (Gradient GmbH) Philippe Take Gutenbergring 67b 22848 Norderstedt +49 (0)40/209316-214 pt@gpredictive.de
With €300 million under management, Target Partners is one of the leading early-stage venture capital firms in Germany. Target Partners invests in new startup and early-stage companies, and supports them with venture capital during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States.
For more details: www.targetpartners.de, follow us on Twitter: twitter.com/targetpartners or Facebook: facebook.com/targetpartners.
Sprachperlen GmbH Agency for enterprise communication Helena Pröpster Ehrengutstraße 5 80469 Munich, Germany Tel.: +49 89 411 53 199 Email: targetpartners@sprachperlen.de