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Futurelytics Inc secures USD 800,000 in seed financing

November 11
6:52 PM 2013

Futurelytics Inc, a company based in the Czech Republic, was able to close its seed financing round with USD 800,000. The round was led by Index Ventures and Credo Ventures. Kima Ventures and angel investor Robe Keve also participated in the round. Last year, Seedcamp awarded USD 65,000 to Futurelytics for its initial funding. It was the first Czech company to win the investment from the leading investment fund and mentoring program in Europe.

Proceeds from the round will be used to speed up development of the company's products and establish strategic partnerships. It will also use the funds for international growth, primarily in the US and UK markets.

A prescriptive analytics platform, Futurelytics provides businesses with plug-and-play solutions that enable them to leverage existing sources of data. Through their platform, companies can use behavioral patterns in order to enhance their revenues, get new customers and retain existing ones.

Futurelytics Chief Executive Officer Daniel Hastik said about their platform, "The notion that to be able to mine data, you need to be a big firm with an IT department to manage it, expensive software to crunch it and data scientists to analyse it, is false. Most businesses already have customer data in various cloud services. We offer them a very simple way to analyse those data sets and immediately take actions that will directly impact their business. It's that simple."

Ondrej Bartos, a Partner of venture capital company Credo Ventures said, they had known the founders of Futurelytics for more than a year and have followed the company as the first Czech Seedcamp winner as well as their capability of achieving milestones. He added, "Startups are all about people, and we believe in the Futurelytics team and their vision of cloud-based predictive customer analytics platform. We are looking forward to working with them."

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